Paper or electronic?
Some people prefer using a pen and paper to take notes while others can't leave their laptops or iPads at their desks. The traditional paper method is inconspicuous and shows others that you are paying attention. Unless you run out of ink (or paper), you don't need to worry about not being able to continue taking notes. Also, the habit of manually writing something down on paper helps some people to better remember a conversation. By using shorthand (not writing every word and using abbreviations), writing it by hand can be quite fast.
The advantages of electronic note-taking are obvious. Everything you type can easily and quickly be converted into the meeting minutes with minor edits. Also, software such as Evernote is great for keeping notes in order, and mind-mapping tools such as MindManager, MindMeister, or Xmind allow you to take notes in an unstructured way. The drawbacks are that besides the possibility of running low on battery, it could make other participants...