diff --git a/docs/src/concepts.md b/docs/src/concepts.md
index 0469b8be4..72a5db3ae 100644
--- a/docs/src/concepts.md
+++ b/docs/src/concepts.md
@@ -4,6 +4,9 @@ Async/await is a programming model that relies on cooperative multitasking to
 coordinate the concurrent execution of procedures, using event notifications
 from the operating system or other treads to resume execution.
 
+Code execution happens in a loop that alternates between making progress on
+tasks and handling events.
+
 <!-- toc -->
 
 ## The dispatcher
@@ -118,7 +121,8 @@ The `CancelledError` will now travel up the stack like any other exception.
 It can be caught for instance to free some resources and is then typically
 re-raised for the whole chain operations to get cancelled.
 
-Alternatively, the cancellation request can be translated to a regular outcome of the operation - for example, a `read` operation might return an empty result.
+Alternatively, the cancellation request can be translated to a regular outcome
+of the operation - for example, a `read` operation might return an empty result.
 
 Cancelling an already-finished `Future` has no effect, as the following example
 of downloading two web pages concurrently shows:
@@ -127,8 +131,84 @@ of downloading two web pages concurrently shows:
 {{#include ../examples/twogets.nim}}
 ```
 
+### Ownership
+
+When calling a procedure that returns a `Future`, ownership of that `Future` is
+shared between the callee that created it and the caller that waits for it to be
+finished.
+
+The `Future` can be thought of as a single-item channel between a producer and a
+consumer. The producer creates the `Future` and is responsible for completing or
+failing it while the caller waits for completion and may `cancel` it.
+
+Although it is technically possible, callers must not `complete` or `fail`
+futures and callees or other intermediate observers must not `cancel` them as
+this may lead to panics and shutdown (ie if the future is completed twice or a
+cancalletion is not handled by the original caller).
+
+### `noCancel`
+
+Certain operations must not be cancelled for semantic reasons. Common scenarios
+include `closeWait` that releases a resources irrevocably and composed
+operations whose individual steps should be performed together or not at all.
+
+In such cases, the `noCancel` modifier to `await` can be used to temporarily
+disable cancellation propagation, allowing the operation to complete even if
+the caller initiates a cancellation request:
+
+```nim
+proc deepSleep(dur: Duration) {.async.} =
+  # `noCancel` prevents any cancellation request by the caller of `deepSleep`
+  # from reaching `sleepAsync` - even if `deepSleep` is cancelled, its future
+  # will not complete until the sleep finishes.
+  await noCancel sleepAsync(dur)
+
+let future = deepSleep(10.minutes)
+
+# This will take ~10 minutes even if we try to cancel the call to `deepSleep`!
+await cancelAndWait(future)
+```
+
+### `join`
+
+The `join` modifier to `await` allows cancelling an `async` procedure without
+propagating the cancellation to the awaited operation. This is useful when
+`await`:ing a `Future` for monitoring purposes, ie when a procedure is not the
+owner of the future that's being `await`:ed.
+
+One situation where this happens is when implementing the "observer" pattern,
+where a helper monitors an operation it did not initiate:
+
+```nim
+var tick: Future[void]
+proc ticker() {.async.} =
+  while true:
+    tick = sleepAsync(1.second)
+    await tick
+    echo "tick!"
+
+proc tocker() {.async.} =
+  # This operation does not own or implement the operation behind `tick`,
+  # so it should not cancel it when `tocker` is cancelled
+  await join tick
+  echo "tock!"
+
+let
+  fut = ticker() # `ticker` is now looping and most likely waiting for `tick`
+  fut2 = tocker() # both `ticker` and `tocker` are waiting for `tick`
+
+# We don't want `tocker` to cancel a future that was created in `ticker`
+waitFor fut2.cancelAndWait()
+
+waitFor fut # keeps printing `tick!` every second.
+```
+
 ## Compile-time configuration
 
-`chronos` contains several compile-time [configuration options](./chronos/config.nim) enabling stricter compile-time checks and debugging helpers whose runtime cost may be significant.
+`chronos` contains several compile-time
+[configuration options](./chronos/config.nim) enabling stricter compile-time
+checks and debugging helpers whose runtime cost may be significant.
 
-Strictness options generally will become default in future chronos releases and allow adapting existing code without changing the new version - see the [`config.nim`](./chronos/config.nim) module for more information.
+Strictness options generally will become default in future chronos releases and
+allow adapting existing code without changing the new version - see the
+[`config.nim`](./chronos/config.nim) module for more information.