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Claim Your 'Place' How to use Facebook Places to boost business.

By Mikal E. Belicove

Opinions expressed by Entrepreneur contributors are their own.

After months of speculation, Facebook made it official: It's in the location game. The company released its retort to Foursquare in August, a location-based check-in tool called Facebook Places that enables customers to see a map on their iPhone or other mobile device that includes your business (the Place) and a list of their Facebook friends who are currently or recently checked in there.

If you haven't claimed your Facebook Place yet, it's critical that you do so now. It's a lot like claim-jumping in the Old West. By staking your Place, you and only you can control its physical address, hours, contact info, profile image and administrators.

Here's how: