Some information about this has already been published in various previews on the game, but, unlike in Tales of the Abyss, Tales of Vesperia uses a system in which you spend points to equip the skills you want for each character. For example, one skill will give the character a percentage boost in damage done to enemies.
Players can choose how they want to outfit their character with different skills, as long as they have enough skill points to do so! Some skills will cost more points than others, so there is a lot of flexibility in this system. Some skills are also tied to individual pieces of equipment, giving players more incentive to "stick it out" with a certain piece of armor or weapon as they try to achieve the skill.