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Real-time collaboration software facilitates simultaneous work among users on shared projects or tasks, regardless of their physical location. This software typically includes features like instant messaging, video conferencing, file sharing, and collaborative document editing. Examples include Microsoft Teams, which integrates chat, meetings, and file sharing, and Google Workspace, which offers tools like Google Docs and Sheets for real-time document collaboration. These tools enhance productivity and communication by allowing teams to work together effectively in a virtual environment.