There are different kinds of file sharing. One is where computers on the same network agree to allow each other access to certain publicized resources via domain or workgroup membership and trust.
Another kind of file sharing is what's commonly known as Peer to Peer File Sharing. First made popular by Napster, there are many variations on the theme, including Limewire, Kazaa, and others.
In the news lately, sensitive documentation of the President's helicopter was found on a computer in Iran. Whooops! It happened because the computer that originally held the documents also ran peer-to-peer file sharing software.
It just goes to show you how dangerous this kind of thing is. If you are not extremely careful about how you set it up and run it, you are opening your computer up to anyone. This could have devastating effects on your personal and business life.
I hate this type of software. I never run it at home, and strive to eradicate all traces of it on any network that is my responsibility.
I also refuse to run "legitimate" versions like NBC's new HD program downloader NBC Direct. If you read the terms, you will see that it is a peer-to-peer program. You aren't downloading from NBC, you are downloading from other users who have the software. Then when you have your copy, others download from you. Without authentication, without access controls.
So be careful. You don't want your classified documents in the wrong hands.
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