The postings on grey literature are great so far. I'm not sure it has specifically been covered in the postings and comments that I have read, but the control of grey literature in academic institutions is included in the concept of institutional repositories. This is really related to the changing nature of the academic publishing paradigm away from printed journals to e-journals. The aim is to capture everything produced by a university or research institution before publication, to preserve the knowledge, as well as to make the knowledge available to other researchers and scholars.
In law, this has taken the shape of consortiums such as Nellco and Bepress So far, there is no Canadian legal research repository, although many faculty do use the Legal Scholarship Network. We have had previous postings and comments related to this topic on SLAW and I still think the concept of a Canadian wide grey literature legal depository is worth considering.