Software for Escrow

'Escrow' is an age-old legal term referring to a deed that only becomes effective at the operation of a future event.

When Escrow is applied to the world of software and technology it refers to the process whereby the source code of a business application is lodged with an independent and neutral Escrow Agent according to the terms and conditions set out by an Escrow Agreement.

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How does a Technology Escrow Contract Work?

An Escrow Agreement is signed contract between the software vendor, software licensee and the escrow agent.

This party Escrow Agreement specifies the exact legal terms and conditions upon which,

  • The software vendor is obliged to deposit the source code
  • The software licensee may petition for the release of the source code
  • The escrow agent must act in the event of any dispute or legal action

Escrow Agreement Solutions:

Software Vendors and Licensees

If your business produces or is dependent on custom developed software, a Trusted Information Servicesâ„¢ Software Escrow Agreement is an effective and prudent risk management strategy that allows you to vigorously reduce your company's risk exposure.

Often the exact nature and implications of the legal ownership of software source code is not clearly defined or documented. Under these circumstances is it common for ownership or licensing conflict to arise between the software vendor and software licensee.

The signing of an unbiased Trusted Information Services' Software Escrow Agreement provides your business with legal grounds that annuls this risk exposure.

The Trusted Information Services Escrow Agreement ensures that:

  • Software vendors intellectual property rights and assets are respected
  • Software licensees have their requisite protection

Audit, Legal and Security Professionals

A Software Escrow Agreement forms part of the overall Risk Management plan for your client, transfers risk and enables focus on core competencies.

Software Escrow will also provide the Audit, Legal and Security professional with:

  • Client and own risk reduction
  • Efficiency of audit
  • Risk deterrent
  • Litigation avoidance
  • Professional image

IT Purchasers and Consultants

  • Formalise licence conditions
  • Formalise software valuation
  • Ensure application continuity