// solution found here http://jsfiddle.net/edelman/KcX6A/1/
 
  <div id="selectme" contenteditable='true'>Some text goes here!</div>
  <p>Click me!</p>
 
  function SelectText(element) {
      var text = document.getElementById(element);
      if ($.browser.msie) {
          var range = document.body.createTextRange();
          range.moveToElementText(text);
          range.select();
      } else if ($.browser.mozilla || $.browser.opera) {
          var selection = window.getSelection();
          var range = document.createRange();
          range.selectNodeContents(text);
          selection.removeAllRanges();
          selection.addRange(range);
      } else if ($.browser.safari) {
          var selection = window.getSelection();
          selection.setBaseAndExtent(text, 0, text, 1);
      }
  }
 
  $(function() {
      $('p').click(function() {
          SelectText('selectme');   
      });
  });