Cell adhesion molecules (CAMs) are multifunctional proteins and are involved in a number of important regulatory processes in the brain, including cell growth, migration and regeneration. Recent studies using model in vitro systems have identified additional binding interactions in which CAMs, particularly those of the lg superfamily, can participate. Signal transduction pathways are activated following CAM action in the process of neurite outgrowth. Key components in these pathways, such as kinases and phosphatases, are being identified. Receptor phosphatases themselves contain protein motifs characteristic of CAMs and may themselves be involved in adhesion-mediated cell recognition events.