Currently what happens is that someone in a teleconference call or a meeting volunteers to use wiki to write up stuff from the meeting. Too often in the meeting someone will say "submit that so I can see it" or "everyone refresh" or "can you change this to that", etc.
Ideally what should happen is that we can all edit the document together. Currently there is a Mac OSX product called SubEthaEdit (formerly called Hydra) that does this. I have yet to see anything on Windows yet that is comporable, yet in the late 80's there was a product called ForComment?, which allowed also simultaneous editing of documents. I was product manager briefly for it before it was cancelled, and one feature that it has that I've not seen in any apps today was using the change-bar style notation to note when someone else was in progress of editing a paragraph.