Get Ready for a Liveblog of the Yahoo Search "Chalk Talk": No Word Yet on Erasing Google's Market Share

Later today, as BoomTown reported last week, Yahoo is putting on a search party.

Well, not a “party” party–although there will apparently be some lunch noshing at the “Search chalk talk,” during which top techies at the Internet giant will talk up the strategy for its more innovative products, such as Build Your Own Search Service (BOSS) and Search Monkey.

Presenting at the event with be: Prabhakar Raghavan, head of Yahoo Labs and Yahoo Search Strategy; Larry Cornett, VP of Consumer Products; and Lee Ott, senior director, Mobile Search.

Yahoo (YHOO) has a search share that hovers around 20 percent, compared to the more than 70 percent that Google (GOOG) has.

At its HQ in Silicon Valley last week, Google put on a similar show-off, called “Searchology,” about its latest search innovations.

And, although they are clearly No. 1 and No. 2, both Google and Yahoo are bracing for the launch a major overhaul of Microsoft’s (MSFT) search offering, which is expected soon and code-named “Kumo.”

It will be interesting to see what Yahoo’s techies focus on, especially as the company’s brass continue to talk with Microsoft about a possible search and online advertising partnership.

I’ll be liveblogging the Yahoo event, which begins at 11:30 a.m. PDT.

Please see this disclosure related to me and Google.