On the last 4th of February, IBM patented a way to improve traditional free-text tagging with semantic capabilities basically to improve the exploitation of those annotations/tags. If you are interested on the patent, you can find it just here.
Regarding this free-text tagging vs. more semantic tagging techniques, we should not forget the existence of an specification on these same matters called CommonTag. Of course, the IBM’s patent is more focused on the automatic generation/extraction of the semantics behind free-text tagging (tag clouds) than to directly tag resources semantically.

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