PPCGeeks - Picture to Text

Are there any apps that will read the text of a picture and turn it into a text document.

For example, if I take a picture of a text document, it would then convert it to a notes document or something similar.

Today there was notice at work, instead of trying to remember the whole thing I just took a picture of it. I figured that since the phone already does this, to some extent with the buisness card reader, there should be something out there to read larger documents. Unfortunately my Google searches have failed to reveal anything.