Could you describe VoIP and its infrastructural needs/requirements as well as the major benefits?

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Here's a description of VoIP:
http://searchnetworking.techtarget.com/sDefinition/0,,sid7_gci214148,00.html

And this should help with understanding the benefits of VoIP:
VoIP 101: Behind the technology

This was first published in April 2004

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