Protect your licenses and deliver that continuity plan with software escrows

Escrowtech26 May, 2022Technology

A Software Escrow Arrangement is a contract that protects both parties to a software license agreement. It gives a Licensee access to a Software Vendor's source code in the event that both parties agree on a release event. The Software Vendor places their source code in an escrow account, which is kept in a secure location, either offline or in a secure cloud environment. The agent will release the source code to the Licensee if a release condition is met. A Software Escrow Arrangement protects the interests of a Software Vendor while also allowing a Licensee to keep their investment in the software or intellectual property if the Software Vendor is unable to continue operating.