You can send a document for review via e-mail, and then when you receive the reviewed versions, you can merge them so that all the changes are recorded in one document.
When you collaborate on a document, you can record the revisions you make to the document without losing the original text.
You can insert comments in a document to ask questions or explain suggested edits. You can view comments individually in balloons in the right margin of the document or collectively in a reviewing pane.
If you want only specific people to be able to work on a document, you can protect it with a password. If you want to allow only specific types of changes, you can restrict how people can edit and format the document.
If you have access to a SharePoint site, creating a document workspace is a great way to collaborate with your colleagues on a document.
