Online collaboration allows groups to work together in real-time over the Internet on documents and presentations. It enables sharing of resources, ideas, and skills to achieve shared goals. Key features of online collaboration tools include easy setup, security, and functionality like whiteboards for brainstorming or document sharing. Video conferencing provides a video link between people, allowing meetings without travel. While reducing costs, it may not replace in-person discussions. Items needed include a computer, webcam, microphone, speakers and software like Skype.