Trust DataSafe To Protect Your Software Investment
Technology Escrow Services
Expensive software is imperative to how your business operates, therefore it needs to be reliable and stable without downtime or technical bugs. But what happens if the developer who made your software stops providing support or goes out of business?
Technology escrow protects both the developer who creates the software and the customer who purchases the software. Escrow reduces the risks of licensing code while helping to facilitate an efficient recover should a worst-case situation arise. In a bad situation, escrow ensures the customer has access to the resources needed to keep their business running. Escrow lets both the developer and the customer understand what is expected of each other.
When should your business seek technology escrow?
Technology escrow is useful whenever a business wants to protect the value of the software they’ve invested in. Escrow is particularly useful when the software:
- Is customized to the specific business
- Is expensive
- Affects employees or customers
- Critically impacts operations or revenue
Technology escrow also protects against data breaches and data losses due to natural disasters.
Technology escrow is for developers, too
Protecting and licensing your technology is vital to your success and 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.
What kinds of escrow agreements are there?
DataSafe is pleased to provide two types of agreements. All escrow agreements are secured in our secured facility, which was specifically designed for media.
- Three-Party Agreement is executed by the software developer, a single end-user (Company) and DataSafe. It is drafted to cover mutually agreed upon escrow provisions. The escrow deposit will be made for the benefit of the single end-user in case the developer is unable to maintain, update, debug, or completely withdraws from supporting the software.
- Two-Party Agreement, executed by a developer and DataSafe, is a slight variation of the Three-Party Agreement. It allows developers to save time and money by accommodating multiple products and multiple end-users under one agreement. The end-users may sign this agreement or simply be listed as beneficiaries.
DataSafe is Portland’s leader in technology escrow services
We’ve 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. Questions? Contact us!