A new report from The Conference Board finds that virtual worlds are emerging fast on the business landscape, but few companies have developed strategies to deal with them. Membership is now in the millions, and many of the participants are not just customers, but employees.

A virtual world is a 3-D Internet-based simulated social networking community, usually modeled after the "real" world, with buildings, roads, meeting rooms, bars and billboards. Generally, many users participate at any time, with the interaction being immediate - taking place in real time. Some examples of virtual worlds include Second Life , Kaneva and There.

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