Knowledge Management is one of the most improving trends in management. If we would like to be a successful with our company in the business world we should accept Knowledge Management Principles. We should know which are elementary factors of Knowledge Management. As a basic is to understand what the definition of Knowledge Management is, why Knowledge Management is so important, what is the role of knowledge sharing, why knowledge sharing is so important and what is the role of innovation in the Knowledge Management process? The success of Knowledge Management depends on many factors. Some of them cab be controlled by organizations, some of them not. Critical success factors of Knowledge Management can be divided into five categories, which are team working, culture, structure, information technology infrastructure and measurement. In this article it will be emphasized the role of innovation in the Knowledge Management process and will be described some new trends in Knowledge Management sharing which can be usable in the business companies. As the most improved communication canal can be used Internet but it has many negatives in the area of data security. The main aim of this article is to find new communication canals which can be used in business companies. The results of this article will be supported by the quantitative and qualitative researches which were made in the Czech business companies in the last three years.