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Verizon Wireless is about to launch a service called Chaperone. For $20 a month, parents can establish a virtual fence around a child's school during set hours and receive a text message when a kid goes outside the boundary. Similarly, Wherify Wireless is planning to peddle a locator phone in the back-to-school timeframe.
Extract from an interesting piece on geo-locating mobile phones:-
[usatoday.com...]
Lots of potential with that on the web too...