Microsoft has announced Microsoft Office Live Workspace as part of a range of new services that they describe as "solutions that weave together the best of software and Internet services to provide a new generation of rich, seamless experiences that are personalized, integrated and available online anywhere".

Put simply, it's the catch-up cloud computing solution from the software giant that was rumoured a while ago. New services will roll out over the coming months under two headings, "Live" and "Online".

The "Live" services are designed for individuals, business end-users and virtual work groups, whereas the "Online" offerings are aimed at organisations.

Of most interest to consumers, Microsoft Office Live Workspace "is a new web-based feature of Microsoft Office that lets people access their documents online and share their work with others".

Although full details have yet to be revealed, the site is accepting sign-ups now and it appears to be a rival solution to Google Docs that will let you store Office documents online and edit and share them.

It does not appear to be a standalone service, more an online companion service for Office. Critics will no doubt say this is too little too late from Microsoft, who have been slow to innovate in this area.