IP-XACT is a standard for the description of electronic Intellectual Property (IP). This standard is intended for use by Electronic Design Automation (EDA) and Electronic System Level (ESL) tools. It was created and is owned by the SPIRIT Consortium. The primary goals of the standard are to:
enable IP vendors to provide a single description of their components to all of their customers, regardless of the design language or tools that they use
enable developers to transfer designs between environments that use different design languages.
IP-XACT includes an XML schema that defines a number of document types, and a set of semantic rules that describe the relationships between those documents. The most important document types are:
bus definition documents.