Socratic seminars, as a summative assessment or a formative learning experience, allow students to interact with one another, the text/topic, and examine their own point of view.  

Elfie Israel outlines how discussion can further deepen a student's perspectives and understanding of a text/topic:

The Socratic seminar is a formal discussion, based on a text, in which the leader asks open-ended questions.  Within the context of the discussion, students listen closely to the comments of others, thinking critically for themselves, and articulate their own thoughts and their responses to the thoughts of others.  They learn to work cooperatively and to question intelligently and civilly. (89)

Israel, Elfie.  “Examining Multiple Perspectives in Literature.”  In Inquiry and the Literary Text: Constructing Discussions n the English Classroom.  James Holden and John S. Schmit, eds.  Urbana, IL: NCTE, 2002.

As an IBDP Language and LIterature teacher in 12th grade, I loved using socratic seminars, but I didn't always have the class time to run as many as I wanted. So, I used my discussion boards in Feedback Studio. It wasn't a 'live' Socratic seminar, but this digital version worked well to prep or follow-up on class discussions.