ReedSmith, TAAN’s Legal Counsel, has published a comprehensive guide:"Network Interference – A Legal Guide to the Commercial Risks & Rewards of the Social Media Phenomenon"

(This White Paper has been uploaded to the TAAN Members-Only Extranet at:
Resources: Document Library: Legal Section)
A link can also be found in the ReedSmith LegalBytes article at: http://www.legalbytes.com/articles/advertising/

From the Document intro:
Rather than attempting to control the multitude of social media issues, including legal, companies need to adopt to the new rules that come with engagement.

This is a practical guide in the areas of:
Advertising & Marketing
Commercial Litigation
Data Privacy & Security
Employment Practices
Gov’t Contracts & Investigations
Insurance Recovery
Litigation – Evidence & Privilege
Product Liability
Securities
Trademarks

Document includes a Guide to Social Media Terminology and Web Sites.