I saw this earlier tonight and thought it was an interesting way for LinkedIn to provide something good for its members. They developed a new job application feature.
A business looking to hire adds it to their site and then LinkedIn members wanting to apply for the job can submit their LinkedIn profile info by clicking a button or two. The applications lets the job seeker edit things in their profile on the fly as well as add a cover letter.
Seems like a good way to connect those looking for a job and those looking for an employee. I can see other networks trying to implement something like this, though it's perfect for LinkedIn given the network mainly revolves around business.
You can see how it works on this page (assuming you have a LinkedIn account). Click the button. You won't be applying for anything, but you'll see how the application works.