Abstract: A system and method are provided for sharing information in a distributed peer-to-peer network wherein an information owner invites one or more trusted users to participate in information sharing and wherein the information owner designates permission levels for each of one or more trusted users. Upon accepting the invitation, the one or more trusted users may be granted with complete access, read only access, or blocked access to the shared information. The one or more trusted users may selectively decide to accept or decline to share information on a folder-to-folder basis. Any modifications made to the shared information may be disseminated to all the trusted users in real-time, upon log-in to a central server, or after a predetermined time delay.