There’s an interesting new kid on the block. It’s called Wikology. Based on Wiki software, it will create a Business Directory somewhat parallel to the Open Directory. The Open Directory is a volunteer-based directory as well. However it is tightly controlled with a stringent process for selecting editors. It also can be very slow in accepting possible entries, which has elicited much criticism from those companies that feel they deserve a listing.
Now a company can enter its own details in Wikology and presumably the rules of any polite society will apply. If members feel that a description is not correct, then as in any Wiki they can set out to modify the entry. It’s too early to say how well this will work out.