This document provides an overview of IP telephony and the H.323 standard. It describes the different components of H.323 including terminals, gateways, gatekeepers, and multipoint control units. It explains the protocols specified by H.323 such as H.225, H.245, RTP, and RTCP. It provides details on H.323 call establishment, control signaling flows, media streams, and call release. The conclusion discusses how internet telephony provides cost savings and new services by combining telephone and data networks.