A SharePoint Document Library is a central depository of files you can share with company employees , team members and permissible members with access. Within the Document Library you can create a list of common documents for a project, documented procedures, and company wide documents for departments such as, human resources or finance. When you first install SharePoint 2003, the Web site comes with a built-in document library called shared documents. This is located on the Quick Launch bar as well as on the Documents and Lists page.
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