Social media has been the big trend of the past few years on the web - sites such as myspace, facebook, flickr and youtube have appeared out of nowhere to become internet phenomenons, though they could be considered as the logical extension of the newgroups, forums and blogs that have been in existence on the internet for years.
When developing a social media project, there are several risks to consider -
Possible copyright infringement in posted material
Posting of inappropriate content
Posting of irrelevant content
Legal challenges arising from any of the above
Adequate storage capacity and bandwidth for websites which have seen explosive growth