Is your intellectual property working FOR or AGAINST you?
Protecting and licensing your technology is vital to your business success; on the other hand, unsecured licenses or leaked source code can do irreparable harm to your business. A technology escrow agreement engages a neutral third party to protect your intellectual property and administer any license agreements you have. Technology escrow protects developers, licensees, Software as a Service (SaaS) providers and subscribers alike.
DataSafe is Portland’s leader in technology escrow services
DataSafe has been providing technology escrow services to organizations and individuals since 1986. Our team of intellectual property experts can walk you through the escrow process and customize the appropriate escrow agreements between technology developers and licensees. DataSafe maintains a complete line of insurance coverage for technology escrow products.
How does Technology Escrow work
A technology escrow agreement works like an insurance policy. When one business licenses its technology to another party, they place the technology into a neutral, third-party escrow account. Having the technology in escrow protects the licensor from having their property stolen or used without consent. It protects the licensee if the licensor were to cease operations for any reason (bankruptcy, etc.) and ensures that they would have continued access to the technology according to the terms of their license agreement. Once an escrow agreement is in place, DataSafe conducts an escrow verification, ensuring that all components/files that are needed to access the escrow materials are available to the licensee. We then securely store the technology or source code and release it to the licensee according to the terms of the escrow agreement.
Is Technology Escrow necessary for my business?
If your business creates proprietary technology, software, marketing or financial plans, custom websites or any other original technology that you license for others to use, you need to protect your investment by engaging a neutral third party to handle your escrow and licensing. Call DataSafe today to speak with our consultants and receive a quote.
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