“Setting the record straight” is what ICorrect.com promises to do. This site was officially launched earlier this week to give people and organisations a chance to correct any information about themselves that they believe to be untrue. Sir David Tang, the founder of ICorrect, believes that 99% of what’s written on the Internet is based on hearsay and now offers celebrities and organizations a platform to correct or refute any information they regard as lies, misinterpretation or misinformation.

For example, people like Cherie Blair, Kate Moss, Stephen Fry and Naomi Campbell but also organisations such as Chelsea FC and IMG have already used ICorrect to make some online corrections.

These are the the main things I learned from ICorrect:

1. Cherie Blair did NOT attend a shooting party with Gadaffi’s son.
2. Kate Moss is NOT going to start a new career as an actress, at least not at the Old Vic, according to Kevin Spacey.
3. NO WAY the players of Chelsea FC spent £120,000 on drinks at the birthday party of their teammate Salomon Kalou!
4. Kate Moss does NOT use Facebook or Twitter, so don’t believe any impostors on there pretending to be her.

However, trying to correct your reputation online does NOT come cheap: it costs $1,000 (£600) a year for individuals and $5,000 (£3,000) for businesses to be registered as “Correctors” with ICorrect, but I guess that’s peanuts if you’re Naomi Campbell and you desperately want to assure the public that you do NOT have a preference for where the 2018 World Cup is being held.

Main learning point: reading some of the entries on ICorrect made me laugh. After a day in which many Japanese people lost their lives and homes by a tsunami, reading a statement by Jemima Khan claiming that her suggested Muslim name “sounds like you’re clearing your throat of phlegm” does probably provide some welcome entertainment for some. However, unless ICorrect starts attracting a mass following and establishes credibility with the mainstream public, this new site does NOT constitute a long-term viable business model in my opinion.