JustSystems Corp., a global XML and information management technology provider, is making good on its promised support for the XBRL standard and associated XBRL International, the standards body responsible for the oversight of the XBRL specification.
The Japan-based vendor is contributing intellectual property rights for its invention of eXtensible Business Reporting Language (XBRL) rendering technologies to XBRL International. The invention, known as the “formatting linkbase,” provides enabling technology for viewing XBRL data in financial and other business applications.
JustSystems, a well-known supporter of open source and XBRL technology, hopes the contribution will clear the way for widespread implementations of this technology, and speed adoption of XBRL worldwide.
JustSystems issued a statement that it will not seek to enforce any of its enforceable U.S. or foreign patents for the formatting linkbase against any implementation of the XBRL specification. This move ensures full, free use of JustSystems’ rendering technologies as part of any XBRL applications and initiatives.
XBRL is an XML specification that promises to transform financial reporting by making financial information highly accessible, interactive and comparable. XBRL is now mandated for financial filings in multiple jurisdictions worldwide, with the U.S. Securities and Exchange Commission soon expected to do so as well.
Under the terms of this contribution, the XBRL formatting linkbase patents held by JustSystems will not be asserted. JustSystems will maintain invention rights, but the intellectual property and all documentation can be applied freely by the developer community at large.
“We are confident that developers will get significant value from the linkbase approach for formatting and rendering XBRL financial data,” says Diane Mueller, VP of XBRL development at JustSystems and chair of the XBRL Technical Working Group on Rendering. “As a longstanding leader in XBRL innovations, we’re pleased to support the XBRL standards development effort through a significant contribution.”
The XBRL formatting linkbase provides a standards-based method for defining how XBRL data, which is complex and largely unreadable by people, and is rendered to documents, Web pages, wireless devices and other applications. By mapping data elements to specific formatting conventions, the formatting linkbase helps organizations to ensure the consistent display of XBRL data across multiple output formats and delivery channels.
“JustSystems’ generosity and leadership in donating its intellectual property to help ensure the smooth application of these concepts in future modules of the XBRL specification is very much appreciated by the consortium,” says John Turner, chairman of the XBRL International Standards Board. “This approach, making relevant inventions available for use within the XBRL community, sets a terrific example.”
JustSystems issued a statement of non-assertion to XBRL International on May 5, 2008, at which time the technology became fully accessible by members of the XBRL International Consortium.
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