A document workspace is a SharePoint Web site that can be accessed by the team members who contribute to a shared document.
You can create document workspaces for Word, Excel, PowerPoint, and Visio documents in two ways: by e-mailing the file as a shared attachment , or by using the Shared Workspace task pane in the Office application in which the document was created.
You specify the workspace members who can access the workspace and contribute to the document.
You can create tasks for completing the document and assign those tasks to yourself or others.
You can be alerted by e-mail when information in the workspace changes.
You and your team can discuss the document through an online discussion board in the workspace.
You can customize the layout, content, and appearance of the document workspace to meet your needs.