Dear Community Members,
As we work towards completing the POSIGN patent applications, we would like to share with you some additional project developments we have been working on.
These project developments represent significant milestones in the long and winding road toward patent pending status. Quite frankly, getting through this patent pending stage has been a daunting task for everyone involved, including supporters and contributors. We appreciate their patience as we work through this massive challenge on a daily basis.
More with regard to patent applications later with a message directly from Zoltan.
With regard to developments, tomorrow evening we will provide an introduction to our proposed governance model and on Friday we intend to provide updated information regarding STATIC nodes.
- In order for us to apply for patents, our IP firm advised us to incorporate as a Canadian corporation. For all upcoming patents related to the XTRABYTES project, Zoltan will be the inventor and a new corporation called XTRABYTES Intellectual Properties Inc. will be the applicant ( owner ).
- In line with registering our new corporation, we’re required to provide a corporate address. As such, we have set up a “virtual office” with options available for physical office use in the future ( if/when required ). This full-service office facility will provide us with access to several hundred global locations for meetings and other services as well.
We feel we have chosen an attractive corporate location at:
XTRABYTES Intellectual Properties Inc.
250 Yonge Street, Suite 2201
Toronto, ON M5B 2L7
Since this is a virtual office, we currently do not pay for any added services. However, we will be able to take advantage of: mail forwarding, answering services and/or call forwarding, and meeting room facilities, etc. in the future. As our business expands, we will eventually outgrow this location and move into a physical corporate office ( a milestone we will all be very proud of ).
Looking ahead, we believe that milestone is entirely feasible, especially as we expand ownership of XTRABYTES Intellectual Properties Inc. Which leads me into our first official introduction of our proposed governance model, a document to be revealed in our next announcement.
To close today’s announcement, below are a few words from Borzalom ( converted to proper English ) with regard to patents. On March 29, he wrote:
Work on the patent documents is progressing:
This is a review where I must personally read every word, line by line. This is a work in progress and it is not a fast process. This is the first round where our lawyers have provided us with a prepared draft text of the descriptions. Not everything is perfect in this first version and some parts need clarification.
Is the deadline more important than the quality?
One of our first rules in this project is that there are no deadlines. Our work quality will always be more important than a deadline. What is the point of submitting a patent application with incorrect information? One bad word or phrase could be enough to weaken or disqualify our application and ultimately the patent itself.
The patent goal protects our project. If the quality of the patent application text is not perfect, then it will not be submitted because the goal of protecting our inventions has not been given its best effort and therefore potentially not achieved.
I will need several days to complete this review (written Friday). More time will be required after that for the lawyers to adjust the draft in accordance with my remarks. If required, we will repeat this process until I am satisfied that we have properly described my inventions. I can assure you that one round is not enough.
The quality will always be more important than keeping an estimated deadline.
Coming up next…
How XIP Inc. ties to the GOVERNANCE Model
( estimated drop time – 7 PM GMT Wednesday )