All vertebrates share four key characteristics - a notochord, hollow nerve cord, pharyngeal slits, and tail - at some stage of development. While most lose these traits as adults, they define the phylum Chordata. Vertebrates evolved internal skeletons allowing them to grow larger and more complex, with jaws developing from gill arches, giving them predatory advantages. Major vertebrate groups include fish, amphibians, reptiles, birds and mammals.