LBS means Location-Based Services, it’s definitely the actual trend : pull and push services to get info about something in th area.
Another buzzword related to few LBS is “social technology” in which location information could be of interest in order to find somebody in the environment. To meet this end, Trepia proposes a location-based list of others nearby WiFi users. I’ve also seen similar systems to location other nearby bluetooth-enables cellphone users.
I’ve found on smartmobs how it works : “If two people are within range of the same Wi-Fi access point, they must be close to each other. Building on this idea, Trepia tracks the movement of people through access points, and then notifies you of other users who are in your area. “
The software could be downloaded here.