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The simple 5 step process to a software escrow
1) Set the terms of the Software Escrow
During the initial setup of a software escrow key aspects of the agreement need to be discussed and agreed upon. When should the escrow materials be released? What can the licensee do with the escrow materials once they are released? How often will the materials be updated? What testing should be conducted on the materials?
Download a sample agreement2) Delivery of source code and other materials
After the software escrow is setup, the escrow materials should be promptly delivered to EscrowTech. These materials should contain, but are not limited to: source code, documentation and any other important materials required to get the software running in the event of a release. Here is our suggested list of escrow materials.
EscrowTech makes the submission process easy with submission methods such as escrow synchronization, automated submission scripts via sftp, manual online submission and manual offline submission.
How to Update a software escrow3) Source code and other materials are securely held awaiting release conditions to occur
Once EscrowTech has received the source code and other materials, we will store it safely in our secure escrow vaults awaiting a mutually agreed upon release condition to occur. These release conditions are often bankruptcy or failure to maintain the software.
Sample Release Conditions4) Continuous updates to the escrow
As new versions of the software are developed corresponding updates to the escrow occur.
EscrowTech can automate this process which keeps the escrow updated without requiring excessive time from the software owner's team.
Escrow Synchronization5) A release condition occurs and the escrow materials are released to the licensee
A release condition such as the software vendor's bankruptcy has occurred and now the licensee needs the source code to continue using the critical piece of software.
EscrowTech will promptly release the materials to the licensee following the terms agreed upon in the escrow agreement.
If a software license terminates without a release condition occurring then the materials can either be returned to the software vendor or destroyed depending on the software vendor's wishes.
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Why does a software escrow and source code escrow matter?
When negotiating a software license at one point a prudent licensee will ask, "What happens if the software vendor goes out of business?" What usually follows is a request to access the source code and any other critical materials used to maintain the software.
From the software vendor's perspective, giving the licensee access to the source code and other confidential materials is a risk to its business. How does the software vendor know the licensee will keep the source code safe and secret and will not prematurely use it? What if dozens of licensees demand the source code?
From the licensee's perspective, not having access to the source code and other materials needed to maintain and update the software is a risk to its business. How will the licensee continue to use and maintain software, it heavily depends on, if the software vendor goes out of business, fails to meet its obligations or any other number of unforeseen events?
Benefits - Software Vendor
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Smoother negotiations
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Establishes confidence by addressing the concerns of the prospective licensees (those concerns may be unspoken)
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Safe storage of source code and other materials with one company instead of scattered across multiple customers
Benefits - Licensee
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The ability and legal right to maintain, update and enhance mission critical software
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Reduced chance of significant interruption of, or damage to, its business
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Eliminate concerns regarding the software vendor's capabilities
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Business continuity
Doing Software Escrows Right Whitepaper
Learn about the problems and solutions that exist with software escrows
Why EscrowTech
See why over half of the Fortune 500 trust us
25 Years of Experience
For nearly a quarter of a century EscrowTech has helped thousands of customers all over the world with their software escrow needs.
Flexible Agreements
When our standard agreements don't fit your unique situation, our in-house counsel can work with your attorney to customize them.
Convenient and Fast Setup
Is the software escrow clause holding up your software license agreement? If so, EscrowTech can help you quickly set up an escrow in as little as one day.
Superior Technical Expertise
We employ our own internal developers allowing for a higher level of specialized technical capability.
Online Escrow Management
Upload source code, view account documents, pay bills and more all from the convenience of your web browser.
Safe, Secure and State of the Art Escrow Vaults
For nearly a quarter of a century Escrowtech has securely stored over half of the fortune 500's materials at our two secure escrow vaults.
Two Site Physical Storage
Source code is securely stored at two separate physical locations. This approach ensures that your source code is never lost and is always available in the event of a release.
Fees Locked for 3 Years Read More
Predictable, fair and no unpleasant surprises.
synchronizes with code repositories
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How can we help you?
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Testimonials
What Customers Say
Thanks EscrowTech for over eight years of outstanding service. You have always been willing to go the extra mile for all the parties, but always keep the legal rights of the parties protected. EscrowTech has taken a software requirement which sometimes can be painful and made it a simple process. Keep up the good work.
Itron, Inc.
Our experience of EscrowTech over the past 12 years has been a one of complete satisfaction. They are competent, affordable, responsive, and treat you personally in a professional and caring manner. They continue to make it easier to update registration materials, and follow up quickly with our clients whenever a new deposit is uploaded. A great, reliable experience.
Lyons Information Systems, Inc.
Thanks for all the help. I appreciate how easy and accommodating it was to set up our escrow agreement. I look forward to future business
Sigmaxim, Inc.