Transcription is the process of synthesizing RNA from a DNA template, involving RNA polymerase and distinct phases: initiation, elongation, and termination. It produces various forms of RNA, including mRNA, tRNA, and rRNA, with eukaryotic transcription requiring additional factors for initiation and involving splicing of introns. Terminators can be intrinsic or extrinsic, and the process in prokaryotes is coupled with translation, while eukaryotic mRNA must be transported to the cytoplasm for translation.