Time Magazine on Wikis
"Inspired by Wikipedia, a Silicon Valley start-up called Socialtext has helped set up wikis at a hundred companies, including Nokia and Kodak. Business wikis are being used for project management, mission statements and cross-company collaborations. Instead of e-mailing a vital Word document to your co-workers—and creating confusion about which version is the most up-to-date—you can now literally all be on the same page: as a wiki Web page, the document automatically reflects all changes by team members. Socialtext CEO Ross Mayfield claims that accelerates project cycles 25%. 'A lot of people are afraid because they have to give up control over information', he says. 'But in the end, wikis foster trust'."