Are you Socially Aware? Quick Talk About the power of Social Media with Legal and Business Topics
Socially Aware is an informative newsletter on social media legal and business topics produced by prominent law firm Morrison & Foerster. Check out this link for one of their latest installments here: http://www.mofo.com/files/Uploads/Images/111006-Socially-Aware.pdf
In the last issue, Morrison & Foerster created a infographic which cleverly charted the history of social media that drew mass attention. This month, the firm highlights some eye-opening stats showing the different rates at which Business-to-Business companies are using social media compared to their Business-to-Consumer counterparts.
This savvy study, conducted by business2community.com, shows that usage of social media among B2B companies appears to be outpacing use among consumer-facing companies – by 86% to 82%. Perhaps more surprising, 69% of B2B firms said they were shifting their marketing dollars to social media; for consumer companies, the number was 67%. Though the differences are small, the results confirm the impressive extent to which business marketers embrace such platforms as Facebook, LinkedIn and blogs to reach their target audiences, even more than consumer brands. Equally noteworthy: the survey found that 100% of Fortune 500 companies reported executives who use LinkedIn. Viewing from this study, it is evident that the world of social media bears so much power within companies in today’s society.
What else is on tap in the new Socially Aware?
• A look at how social media is creating a sea change in the world of litigation, especially in how courts and litigants are grappling with questions on the discoverability of data from social media websites and blogs, including Twitter messages. This informative newletter notes some key trends emerging, such as that data largely hidden behind privacy settings may still be subject to discovery. Yet just because an individual involved in a lawsuit is posting content or messages on a social media site does not mean that the other side can automatically pursue those posts in a fishing expedition.
• There’s a piece looking at the mounting challenges facing social discount site Groupon, whose IPO prospects are looking a lot less rosier these days than the $30 billion valuation tagged to the company just a few months ago. Socially Aware notes that online coupons are fast losing luster as several states launch investigations into the legality of expiration dates. And Groupon’s own announced plans to broaden customer collection information has prompted hard questions from Congress about its privacy and data security measures. Throw in a group of class actions over consumer protection laws and Groupon’s model appears to be hitting a serious wall.
• Everyone complains about spam, and I mean everyone! Socially Aware has allocated their precious time to investigate into thorny issues raised when popular email platforms block or restrict communication from companies it believes are generating spam messages. The editors consider two recent unpublished cases involving claims against Yahoo and Microsoft’s MSN service—at issue were protections provided to social media sites under the Communications Decency Act.
Other pieces touch on updated guidelines by the NLRB on employer social media practices; how social media profiles may be changing the way that trial lawyers vet potential jurors, and a look at which Facebook activities may actually be declining. Who knew social media had so much power in becoming beneficial to the world of law and business?
Socially Aware has been BOOMING! It has 15,000 subscribers and has generated major assignments for Morrison & Foerster, including fresh representations for a leading media company, global manufacturer, major tech provider, multinational insurer and other clients in need of counsel for their own social media initiatives. Rock on Socially Aware, rock on!
Do you feel yourself craving more Socially Aware talk? Does this newsletter have your mind racing into wanting to learn more information about the would of social media through legal and business topics? Morrison & Foerster partner John Delaney, the principal editor behind the newsletter who also leads the firm’s Technology Transactions Group in New York has all the answers to your questions about topics featured in the Socially Aware newsletter.
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- John Delaney
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