Software Escrow

What is Software Escrow?

Software escrow is the depositing of software systems source code with a third party escrow agent. Software Escrow Agreements are used to ensure continued use of critical business systems, they mitigate the risks that are inherent when an organisation relies on third party technology vendors. The software source code is released to the licensee if the licensor fails or otherwise fails to maintain and update the software are specified in the software license agreement.

• Software Escrow is the deposit of application source code with a neutral third party, the escrow agent.
• Software escrow is a smart, simple way of protecting intellectual property rights for software owners while ensuring the long-term availability of business critical systems for end users.
• By arranging a software escrow agreement you are taking responsibility for your business continuity and ensuring that the systems you rely on are always available.
• There may be circumstances when you reasonably want access to the source code and documentation for your business critical application and an escrow agreement will give you that access.