Microsoft will be offering the next edition of its Office Suite (Office 2010) in a free online edition.

Users will be able to use a "lite"version of the package via the Web similar to Google Docs.

The online software will be free for businesses subscribing to Microsoft’s Software Assurance Program. These companies will also have the ability to host the software on their own servers

There will be a paid online edition which allows far greater control over documents.

With the introduction of the free online editions, Microsoft will be changing the types of versions offered for Office. Consumers will have three options: Home and Student (Word, Excel, PowerPoint and OneNote), Home and Business (which adds Outlook) and Professional (which adds Access and Publisher).

Large businesses will have two choices: Standard (which has all the above programs except Access) and Professional Plus (which has everything from the other editions, plus InfoPath, Communicator and SharePoint Workspace).

The new office suite will not be available until next year, hence the name 2010, but it appears it may be worth the wait, especially if your company is considering upgrading Office.