Technology Review reports that the tool will be compatible with tablets, phones, computers and other devices, regardless of whether they are touch-screen supported.
The stylus will use a mounted camera to map out movement and angle and translate it into on-screen data.
A prototype version of the product has been developed, and has been well received at Microsoft. However, the report notes that the designers have encountered issues when trying to track pressure on screens without risk of damaging them.
Microsoft's upcoming Windows 8 operating system and its flagship Office 2013 software have been fully optimised for touch-screen controls, a move which may have influenced the development of the stylus device.
Windows 8 is scheduled for release on October 26.