Safeguard Your Future With Technology Escrow Services

Topics: Technology Escrow

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Business Challenge

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.

What If You Could...

  • Eliminate business hurdles when creating an escrow agreement?
  • Know, with confidence, what to do when your customer asks for escrow?
  • Assure licensees that their technology investments are protected, and know that all your IP assets are also covered?

How This Affects You

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.

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 Iron Mountain 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, Iron Mountain provides 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:

What You Gain...

  • A streamlined approach to setting up escrow accounts and handling future negotiations.
  • Full protection for both your IP assets and your customers’ investments.
  • The ability to completely recover source code and restore traditional and/or SaaS-based operations.

Software Escrow

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.

Escrow Verification

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:

  • Assured customers they could maintain and support the technology going forward.
  • Gained a competitive advantage by addressing concerns up front.
  • Increased confidence that IP management was done correctly through use of a trusted third party.