A lot of effort goes into developing your technology solutions. You want to protect your intellectual property (IP) when you license it. You need to care for your company’s interests and give your customers the peace of mind that their investment in your technology is protected.
An escrow agreement that balances your need for confidentiality with your customers’ need for investment protection achieves this. You should be equipped to create one that addresses your mutual concerns.
INDUSTRY QUOTE: "The ability to offer a technology escrow agreement to our customers gives us an extra layer of competitive advantage over any competitor that does not offer these services.” —SCOTT BROWN, SENIOR DIRECTOR OF TECHNICAL SERVICES, REDPRAIRIE (DEVELOPER CUSTOMER)
A technology escrow works much the same way as an insurance policy. Two parties enter into a licensor/licensee relationship, the information encompassing the technology in question is deposited into an escrow account that ensures licensors have a trusted partner who will securely hold onto the technology information and release it only under very specific conditions. Also, the licensees may gain access to that information even if the licensor no longer supports it.
What If You Could...
If you can’t get an escrow agreement quickly, the procurement process can stall just short of completion. And, if the contract doesn’t adequately protect your interests, and those of your customer, you’re left to wonder if your escrowed IP is secure — or exposed to unwarranted disclosure due to a lack of proper legal and process safeguards.
Through these agreements, you’ll be able to remove the roadblocks in negotiations by relying on a neutral third party to help you establish a win-win escrow process. This will assist you in getting it right every time through a repeatable escrow process. It also allows you to take control when you need it by knowing that your critical IP will be released only under the proper terms and conditions of your escrow agreement.
Escrow provides you with a higher level of security for your data and ensures you a secure environment for data transfer, data storage, and account management. You’ll be able to rapidly establish escrow agreements that are complete and secure.
With Escrow services, you’ll be provided physical and electronic vaulting services with secure, immediate, online account management. By following rigorous standards to keep your data safe,we provide security at every level and goes to great lengths to protect your data from significant credible threats.
When working with our experts, you and your customers will be confident that you’re able to prevent delays in your sales cycle and that your agreement has been handled properly. Our service suite includes:
You are offered secure, physical, and electronic vaulting, with simple, real-time account management using our Web-based Escrow Management Center tool. Whether you are licensing traditional on-premises or SaaS applications, this service incorporates best practices to track chain-of-custody, plus strict procedures addressing storage, facility, and deposit retrieval security. Your source code/proprietary information is released only upon careful evaluation of the agreement terms’ outlined process. Additionally, if you need to secure a software escrow account to support financial arrangements, Software Escrow can be used to offer a streamlined way to analyze, assess, validate, and secure any assets in question.
What You Gain...
Validates that your contractual commitments to include the necessary information in your escrow deposits are complete and contain all the components needed to read, recreate, and maintain software or technology in-house using Escrow Verification services.
Customer Success
Knowing customers are wary about what might happen if their supply chain execution and retail technology were unsupported, Red Prairie chose Iron Mountain to establish a secure technology escrow agreement ensuring that their customers were protected and there were no delays in support structure.
The Results:
NCC Group Software Resilience has acquired Iron Mountain’s Intellectual Property Management (IPM) business. For more information on the acquisition, please visit our dedicated information hub, or contact Iron Mountain IPM.
