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Facebook which grabbed its 300 millionth user in September, 2009. It has captured 58.59% of all U.S. social network visits in October 2009, compared to 19.94% the year before.

In early in October, a study commissioned by Robert Half Technology, an IT staffing firm found 54% of U.S. companies say that they have banned workers from using social networking sites like Twitter, Facebook, LinkedIn and MySpace while on the job. The study also found that 19% of companies allow social networking use only for business purposes, while 16% allow limited personal use.

Example Uses

Daughter of ousted GM CEO takes revenge online

Facebook employed in search for missing Rockefeller

Auschwitz Museum embraces Facebook

Facebook and the 2008 Election

ABC News Joins Forces With Facebook

Debates

Phishing Scam Targeting Facebook Users

Lollapalooza.com -- link the Facebook group to the website

More than half of UK employers research job candidates online

How to decline Facebook friends without offence

Recommendations for Professional Use of Facebook

Create a Powerful Profile

Use the "about me" to describe your business or what you do

Use the information box to feature your website, blog or other resources

Build Your Contact List

Communicate with Wall Posts -- easily keep in contact with your colleagues

Update Your Status -- use it to share tips, promote events and even boost sales

Participate in Groups

Build Your Friends List -- use two way communication to build relationships

Create Fan Pages -- business or brand an identity on Facebook

Applications -- You can have developers build applications to help promote your business, or use one of the applications that is there

Advertising -- In addition to making your presence known by being there, Facebook has a powerful advertising engine that enables businesses to target ads to demographics

Polls -- You can get a quick answer to options you are considering, or just about the demographic ... good way to keep users engaged.

Facebook "connect" -- enables your website to easily integrate with Facebook. With Facebook Connect, webmasters can allow users to authenticate with their Facebook credentials, find friends who also use your site, and publish activity on your site through their Facebook feeds.

Build in Useful Applications

Google Calendar (public calendar)

Extended Information (extra fields to the information section)

My LinkedIn Profile (link either on the wall or in the boxes)

My Stuff: makes it easy easy to add content that contains embed code such as a video, or slideshow presentation

Networked Blogs:

FBML: allows greater customization of information

Events: advertise things happening in your business

Notes: allows you to write longer, more substantive pieces

Discussion Board

Facebook Group vs Facebook Fan Page: What's Better?