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Wiki is an ideal instrument for the creation of knowledge bases, to prepare requirements specification or other documents requiring simultaneous efforts of many people (which makes it, in essence, a perfect tool for teamworking).
Each wiki page features the commenting tools and the versioning control system. The former function enables users to discuss the content of a wiki page in-place. The latter provides means to track, control or undo changes the users make to the wiki page.
Wiki may operate as a separate entity of a website, or as a part of your social network (certain search function limitations apply, however).