Legal

Patent Pledge

Today, September 14, 2021, BitGo Holdings, Inc hereby pledges that it will not initiate patent lawsuits against anyone who, in good faith, wants to use its technology. BitGo’s mission is, and has long been, “to deliver trust in digital assets,” and has a core ethos to accelerate the use and growth of cryptocurrencies and digital assets worldwide. This policy is intended to encourage the advancement of a common, rapidly-evolving set of technologies for digital assets, thereby benefiting BitGo, other companies building in the cryptocurrency and digital asset sector, and the world. These guidelines provide further detail as to how we are implementing this policy.

BitGo’s Pledge

BitGo irrevocably pledges that it will not initiate a lawsuit against any party for infringing a BitGo Patent through activity relating to cryptocurrencies or digital assets for so long as such party is acting in good faith. Key terms of the Pledge are explained below.

Definition of Key Terms

"BitGo Patents" means all patents owned now or in the future by BitGo (other than a patent owned jointly with a third party or any patent that BitGo later acquires that comes with an encumbrance that prevents it from being subject to this Pledge). A party is "acting in good faith" for so long as such party and its related or affiliated companies have not:

• asserted, helped others assert or had a financial stake in any assertion of (i) any patent or other intellectual property right against BitGo or its affiliates, or (ii) any patent right against a third party for its use of technologies relating to cryptocurrencies or digital assets;

• challenged, helped others challenge, or had a financial stake in any challenge to any BitGo patent; or

• marketed or sold any knock-off product (e.g., a product created by imitating or copying the design or appearance of a BitGo product or which suggests an association with or endorsement by BitGo) or provided any material assistance to another party doing so; or

• fraudulently claimed to be Satoshi Nakamoto.

Transfer of BitGo Patents

Should BitGo ever transfer a BitGo Patent to a third party, it will do so only to a party that agrees, by means of a public declaration intended to be binding on such party, to provide the same protection that BitGo provided under the Pledge and to place the same requirement on any subsequent transferee.

Legal Effect

The Pledge, which is irrevocable and legally binding on BitGo and its successors, is a "standstill," meaning that it is a forbearance of enforcement of BitGo’s remedies against any party for claims of infringement for so long as such party is acting in good faith. In order for BitGo to preserve its ability to enforce the BitGo Patents against any party not acting in good faith, the Pledge is not a waiver of any patent claims (including claims for damages for past acts of infringement) and is not a license, covenant not to sue, or authorization to engage in patented activities or a limitation on remedies, damages or claims. Except as expressly stated in the Pledge, no rights shall be deemed granted, waived or received by implication, exhaustion, estoppel or otherwise. Finally, the Pledge is not an indication of the value of an arms-length, negotiated license or a reasonable royalty.

What this pledge means is that as long as someone uses our patents for developing cryptocurrencies and digital assets, and doesn’t do bad things, such as knocking off our products or using our patents and then suing us for intellectual property infringement, they should have no fear of BitGo asserting its patents against them.