Ray Ozzie, CEO of Groove Software, has had his counsel create a corporate policy regarding personal websites and weblogs. I think this is a fantastic idea, and Ozzie has found a great balance between respecting each employee's rights to set up a web site and express his personal opinions, and the potential legal (e.g. SEC, NDA violation) and marketplace (e.g. bad PR, product preannouncement) risks that must be mitigated.

This is very forward thinking, and is also great PR for Ozzie and for Groove. More CEOs should be blogging.