... offers a way for people from all over the world to interact within the experience of collaborative literature. Users, with or without literary training/knowledge, may create a work of literature (be it fiction, poetry, etc) with other users in an organized, online environment.
The first organized attempt at writing a collaborative wikinovel was sponsored by Penguin Publishing and De Montfort University and was called A Million Penguins. The final product was not considered to be a novel and the experience was eventually regarded as an interesting interaction/performance rather than anything that could produce a good resulting product. Whether the concept of a wikinovel will be able to produce well respected literature or not remains to be seen.
Here are some links to collaborative literature websites...
... and for more INFO