XBRL INTERNATIONAL CONFERENCE CONVENED TO DEMONSTRATE XBRL IN ACTION TODAY AROUND THE WORLD
XBRL International Accepts Contribution of JustSystems’ IP Rights for XBRL Rendering Technologies to Further Promote Open Source Technology
Draws More Than 300 Securities Regulators, CEOs, CFOs, and Business Leaders from 37 Countries
EINDHOVEN, NETHERLANDS – MAY 5, 2008 – XBRL International, Inc. (XII), a global consortium dedicated to the development and adoption of XBRL, convened the 17th XBRL International Conference today in the Netherlands. Drawing more than 300 prominent securities regulators, business and financial executives, analysts, investment professionals and software developers from 37 countries, the “XBRL in Action” themed conference opened with sessions showing real use case studies of XBRL around the world. XBRL is now mandated or used in voluntary filing programs in Australia, Belgium, Canada, China, Denmark, France, Germany, India, Israel, Japan, Korea, Netherlands, Singapore, Spain, Sweden, Thailand, United Kingdom and United States.
“Markets representing two-thirds of the world’s total market capitalization have mandatory or voluntary XBRL filing programs in place,” said Anthony Fragnito, CPA, CEO of XBRL International, Inc. “Just as companies using XBRL have attracted more attention from analysts and investors, the global XBRL effort is attracting more attention from international organizations representing financial executives, securities regulators, auditors and accountants. This further illustrates that the market has accepted XBRL as the standard for business reporting and these groups have moved XBRL higher up in priority.”
XII also announced today that JustSystems, Inc., an active global XBRL member, has contributed its intellectual property rights for XBRL rendering technologies to XII, the standards body responsible for oversight of the XBRL specification.
“JustSystems’ generosity and leadership in donating its intellectual property is very much appreciated by the consortium,” added Fragnito. “This is an excellent example of how our collaborative process works, making relevant XBRL inventions by our members available for use within the XBRL community. XBRL was formed on the basis of open source technology, and our collaborative development model relies on the generous contributions of its members for promulgation of the global XBRL standard.”
Under the terms of the contribution, 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 software developer community at large.
Fujitsu (www.fujitsu.com) is the presenting sponsor for the conference.
About XBRL International
XBRL International, Inc (XII) is a global consortium using a collaborative effort to create XBRL, an open source, standard for business reporting based on XML. This Web protocol is being developed and promoted by an international not-for-profit consortium of more than 600 major international companies, organizations and government agencies. For more information about XBRL, please visit www.xbrl.org.
