This chapter focuses on the extraction of accurate knowledge embedded in various Internet repositories, liable to frequent updates of content, and the effective sharing within organizational teams; an area that has not been extensively researched. We will address this issue by exploring the central and dual role of team leaders in their capacity as knowledge processors, functioning both as “sources” and “recipients” of net-based knowledge. The case of action teams that have to deal with unpredictable situations and thus, need to obtain and make instant use of accurate knowledge, is also considered. Further suggestions are made regarding team leaders’ active participation in particular knowledge-sharing channels, the multifaceted nature of the knowledge exchange, the essentiality of time boundaries, as well as knowledgesearch and knowledge-sharing costs. Besides making concrete suggestions, and far from exhausting the various issues in the literature of knowledge sharing, this study offers a potentially new scope for the team leader’s role in the knowledge society on the Internet.