However, it will file its intellectual property rights in the US and Europe, which are its key markets. Bangalore will house its development team. Speaking to The Financial Express, the company's COO and director Sanjith S Shetty said the company had filed for a patent in the US for its ``Valid Engine'' software that equips e-commerce players to validate transactions. ``With e-commerce and business interactions on the Internet taking off in a big way, identifying the sender, validating what he said and making sure the message has reached its destination untampered is the most important aspect. We are focussed on the entire chain rather than operating in a small part of the segment,'' Mr Shetty said.

Its Validated is currently looking at three key segments for its product - individual users, corporate clients and ESPs (e-mail service providers). The company has also developed products/services based on the Valid Engine - Valid Link (a web-based service) currently in alpha stage, Valid Mail for e-mail services and Valid Copy for archiving data. ``With our solution for the various users, encryptions starting from 40 bit to 1024 bit levels are available and the challenge for us is to provide a user-friendly easy solution functioning as a neutral third party enabler in the entire transaction,'' said the company's CTO Manoj Kariappa.

Its Validated is counting on pricing being a major differentiator. For example, the individual user version of its product will be available for $8 per user per year which entitles him to validate 5 MB of data. The corporate version will be priced at $6 per user per annum. ``While most e-notarial services offer single validation techniques, we are set to offer the entire suite at a much lower cost. The prospective user base therefore is as big as the current e-mail user base,'' according to the CEO and director HB Jairaj.

Its Validated is looking at a strategic outsourcing model for its operations. To this end, the company will co-host its data center requirements with Exodus Communications, Bangalore-based iLantus Technologies for complete security management while Ernst & Young will conduct the cyber certification process for the company. The company has currently lined up close to eight clients in the US and is working towards a target of $200 million in revenues in four years.