Google Docs is a free web-based word processor and spreadsheet that allows users to share and collaborate online. The document discusses the history of Google Docs, including its origins from Writely and Google Spreadsheets, its acquisitions of other companies, and its release for Google Apps users in 2007. Advantages of Google Docs include allowing different programs to access files without format changes, easy publishing and version tracking, and easy communication and collaboration. Disadvantages are that features are basic, requiring an internet connection, and incompatibility with some operating systems.