SharePoint is a collection of software products from Microsoft used to enhance collaboration, process management, search and document management-related functions.  Users interact with SharePoint through a Web browser.  Data in SharePoint is contained in lists, which may be a library of revision-controlled documents, a series of assigned tasks, a calendar with appointments, contacts or a project plan. SharePoint is tightly integrated with Microsoft Office Word, Excel and Outlook, providing users with a very simple and intuitive way to manage their data with products they use daily.

SharePoint is the fasted-growing server product in the history of Microsoft and the second-fastest growing product ever (next to Windows 95).  The SharePoint business unit is a $1-billion business unit for Microsoft.  Microsoft's publicly stated goal is to have every user of Microsoft Office, over 500 million people, be users of SharePoint as well.

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Microsoft Announces Office and SharePoint 2010...Details here...

Collaboration 

Microsoft Office SharePoint Server 2007 helps your organization get more done by providing a platform for sharing information and working together in teams, communities, and people-driven processes. Office SharePoint Server is an important part of the overall Microsoft collaboration vision and integrates with other collaborative products to offer a comprehensive infrastructure for working with others.

Empower Teams Through Collaborative Workspaces
Microsoft delivers a best-of-breed collaborative infrastructure that gives end users the tools to easily create their own workspaces and share assets across teams, departments, and organizations while maintaining IT control.

Connect Organizations Through Portals
Microsoft will help bring the full insight and data of the organization to the right people at the right time by making it easier to connect people with line-of-business data, experts, and business processes across the organization.

Enable Communities with Social Computing Tools
Microsoft gives organizations the tools to deliver a broad set of social computing capabilities within their existing workspace and portal infrastructure, so end users can more easily harness the collective intelligence of the organization.

Reduce Cost and Complexity for IT by Using an Integrated Infrastructure, Existing Investments, and an Extensible Architectural Platform
The Microsoft collaboration infrastructure leverages existing investments, is extensible, and interoperates with other systems, so organizations can maintain a lower cost of ownership and more easily meet business demands by building a single infrastructure.