The tag which can be clipped onto a variety of objects, such as backpacks, dog collars, key chain, the belt loop of your child, your laptop bag, etc, will transmit data and its location back to your iPhone. The app will come with three features that are related to the clip-on tags, namely Find, Leash and Page. Find, as the name implies, will allow you to locate a tag and includes a visual meter and audio signal which can help you locate your missing set of keys, or a misplaced bag or even your child in a shopping mall.
Leash will allow you to set a maximum distance that your tag is allowed to travel before sounding an alarm on your phone. This is great for parents shopping for groceries or in the mall who may want to be alerted should their child wander too far from them. The Page function will sound an alert on the tag, which can be used in the same capacity as the Find feature.
The tags are USB chargeable, and all the user would have to do is pop off the cap and plug it into a computer for it to charge. BiKN for the iPhone will only be available come Winter of 2012, but unfortunately there is no word on pricing just yet.