Word 2007: How to hide document properties panel from SharePoint server

Here’s a screenshot of the default word behavior:

Hiding the Document Information Panel by default

1. Select the Settings menu of the document library
2. Under Content Types, click the name of the content type you want to change.
   Important:  If you don’t have content types enabled, you will not be able to change the settings for the document information panel. If you have them enabled, skip to step 4.
3. To enable content types, go to Advanced Settings of the library and set the radio button for Allow manage content types? to yes.
4.  Under Settings, click on the title of the content type you want to modify.
5. On the content type’s Settings screen, click Document Information Panel settings. 
   
   

   Content type settings page
6. On the Document Information Panel settings page, clear the checkbox for “Always show Document Information Panel on document open…”
   
   

   document info panel checkbox

Voilà! No more property  info when  by default when you open the document.
To make the Document Info Panel visible again for the current document in Word, select Prepare>Properties from the Office button:

show document info panel from Prepare menu