Looking for secure software escrow solutions?
When you need your digital data, formulas, blueprints, software source codes or other intellectual property materials held in trustworthy hands, look no further than The Data Vault. We offer complete, customizable third-party escrow services in our secure media vault.
The benefits of escrowing data (the terms ‘intellectual property escrow’ or ‘source code escrow’ and ‘software escrow’ are often used interchangeably) and storing it with a neutral organization for protection are two fold:
Software developers want to protect the integrity of their programs from duplication, theft or other misappropriation by maintaining them in strict confidence as trade secrets. They also wish to insure that customer support for their software is available in the event that the developer fails to fulfill its maintenance obligations or goes out of business.
Customers pay for access to certain computer programs according to business agreements. The continuous availability of such programs and maintenance related to them are critical to those users. Software developers can perform necessary maintenance and modification of their programs for its users without disclosing such documentation to them or other persons.
By allowing limited access to proprietary computer software and other information, protection is provided to both the developer and customer in the case of unfortunate circumstances. As a neutral third party, we are in the business of storing, retaining, and allowing limited access to proprietary computer software, related media, and materials.
Basic Escrow Agreements
The basic agreement (via contract) clearly outlines the conditions of the developer’s possession and the beneficiaries. Beneficiaries are the customer, stakeholders, and investors, along with distinct terms, which are referred to as “release conditions” that are required to activate the transfer or release of the materials deposited in that escrow account to the aforementioned beneficiaries. Examples of release conditions include developer going out of business or software abandonment.
Three-Party Escrow Options
Often compulsory when acquiring technological data from smaller or early-stage developers, these contracts are personalized with customized terms and are deadlocked between the developer of the technology, a lone customer and The Data Vault.
The Data Vault has been a trusted and secure escrow partner for over 30 years; our numerous clients across the country would attest to our reliability. Our experts are constantly on the forefront in areas of technological development, management, and intellectual property issues with experience in resolution disputes. We can even provide draft agreements for your use. Contact us today and one of our experts will be more than happy to help!