All around the globe, companies license custom software that is critical to their business. Developing your own proprietary software can cost millions. For most industries, licensing pre-existing software for daily operations is both less expensive and less of a hassle to maintain. Yet how do you ensure that the company you’re licensing from doesn’t go out of business or otherwise breach a licensing contract? You can’t, and that’s why companies like EscrowTech exist.
Software and its source code can be stored, verified, and updated with us. This protects the vendor as they only have to distribute their source code to one trusted company instead of multiple customers who are demanding a source code license.
Just as important it protects the licensee. In the event a software vendor goes out of business, breaches a contract, or can’t maintain client-side operations, a release event is triggered. This releases the source code to the licensee so that they can continue the daily operations of their business unabated.
Source code, software, and other technology escrow materials are stored at two secure locations – our Technology Law Center south of Salt Lake City, Utah, and our Perpetual Storage Vault, drilled into a mountain in Little Cottonwood Canyon. Both locations are highly secure. We provide a standard inspection that verifies all materials are present in the escrowed material, and we can also run a Technical Verification. The levels of a technical verification include analysis, building verification of escrowed source code, running a binary comparison, and testing the program in a production like environment.
All of this is done to ensure your software is safe, and that all of it has been provided by a vendor as stated in your escrow agreement.