TechCrunch founder Michael Arrington has advocated that "social networking on the iPhone is a huge opportunity, and the fact that the big guys are ignoring it for now leaves the door open for a newcomer to get long term market share."

How to take advantage of social networking?  One example Arrington points to is OpenFeint 2, a social gaming platform that recently announced it has cracked the milestone of 1M active iPhone users.

Why bother with social networking?  As Arrington astutely points out, "without a compelling existing brand or a really innovative product with protectable intellectual property (some of the games fall into this category), the only chance apps have for long term success is to start thinking about ways to have users interact with each other in order to build network value."

Do you have an innovative product with protectable intellectual property or a compelling brand?  Then you better be protecting it.  Need help?  Contact us.   Otherwise, build network value.