Subspace Teleportation
The transporter is a subspace device capable of almost instantaneously moving an object from one location to another. Transporters are able to dematerialize, transmit and reassemble an object. The act of transporting is often referred to as "beaming."
Slipstream Teleportation
Despite its name, the teleportation grid does not actually "teleport" its users; rather, it encases them in a compressed slipstream field, transporting them from one position to another almost instantaneously. This happens much in the same way that a spaceship uses slipspace to travel between star systems - time passes for the individual, but due to the short distances involved it is negligible.