Training and education have evolved far beyond black boards and chalk boxes. The environment of knowledge exchange requires more than simple materials and assessments. This article is an attempt of parsing through the different aspects of e-learning, understanding the real needs, and conducting the right requirements to build the appropriate e-learning system. E-learning systems, unlike the normally developed systems, have variable customers and on-going demands. It is not the easiest task to elicit unambiguous functional and non-functional requirements for such systems. However, a brief exploration of some of the e-learning characteristics may tremendously decrease the difficulty of prioritizing the most important requirements.