WHAT IS TECHNOLOGY ESCROW?
Technology escrow is a solution that helps protect all parties (such as a Licensor and Licensee) involved in technology product licensing. Since Licensors typically do not disclose their Intellectual Property and software source to their Licensees, it is customary for a technology Licensor to deposit source code, data, documentation, and any other relevant materials to their product with a neutral, 3rd party escrow agent who then releases the knowhow to the Licensee for business continuity purposes under specific, agreed upon terms and conditions.
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Effective Escrow Agreements are carried out by a neutral, professional, and knowledgeable technology escrow company – this is where ESCROWglobal steps in.
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A technology Licensor will deposit source code, data, documentation, and any other relevant materials to be secured by ESCROWglobal in safe, climate-controlled vaults until a mutually-agreed-upon, specific release event occurs. Then and only then will ESCROWglobal release the deposited materials for continuity purposes only.
WHY DO I NEED TECHNOLOGY ESCROW?
HOW TECHNOLOGY ESCROW WORKS?
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A three-party escrow arrangement is signed.
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ESCROWglobal holds in escrow the deposited materials, validates, and verifies the materials.
3
A licensor deposits their intellectual property/knowhow with ESCROWglobal.
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The materials are released to the licensee for their business continuity use upon the occurrence of the specific release conditions established in the escrow agreement.
