Knowledge management is the process of gathering, refining, organising, and disseminating knowledge through which organisations generate value from their intellectual and knowledge-based assets. In this paper we study standard formal models for knowledge management and discuss how they can be applied to digital economy. We propose a framework for knowledge management applicable to online trading agents. The framework relies on identification of processes which support knowledge management.We express knowledge exchange in epistemic logic. We then translate multi-agent dialogues in a protocol language MAP which is verifiable by model checking. We apply our framework to a real life case study on knowledge gap and check the underlying knowledge management processes for absence of deadlock and termination.