The basic features of Facebook Places are similar to those of Foursquare without the "mayor" gimmicks: Check into a place, and it shows up on your NewsFeed, similar to the process of "Liking" a page.

Business Upside: Facebook Places has the of being Facebook's native location feature. So while Foursquare hit the 10 million user mark, (not all using Facebook Places of course, for which the company hasn't disclosed numbers). But still, investing time learning Facebook's ecosystem is probably safer than pouring it into growing, but still unprofitable company like Foursquare.

Facebook allows you to merge with the location-based page, which means that users don't just see a location "dot" on a map marked with your company's name on it. Also, when users check into a business, it appears on their news feed, . You can currently use like you would Foursquare--by offering deals and freebies as rewards to customers checking in. In the near future however, you'll likely be able to purchase highly geo-targeted ads, served in real time. Imagine offering a deal on a competing product to someone who has just checked in at a business down the street.

4. Geoloqi

This infant company provides "ambient" geolocation services for a slew of needs. What are "ambient" geolocation services? Well, say you always forget milk when you're grocery shopping. You can use Geologqi's notes feature to write yourself a reminder note, and then ping your local grocery store. Next time you walk in, the app will automatically activate and the note will appear, reminding you, "Get Milk!" In other words, ambient technology takes into consideration factors in the environment--in this case, your location.