Expert networks provide a key service to members of the investment community. Suppose a portfolio manager is considering investing in a drug company that is about to launch a major new product. In order to make an informed decision, he needs expert knowledge of the pharmaceutical industry, the new drug and the drug’s competitors. The portfolio manager knows little about pharmaceuticals, and he doesn't know anyone in the pharmaceutical industry either. To fill the gaps in his knowledge and in his own personal and professional network, he might seek the help of an expert network. The downside is that the provision of expert services can create legal issues if experts disclose information that could be considered proprietary or material and nonpublic.