As reliance on technology increases, businesses face growing pressure to protect intellectual property assets as part of their overall risk management strategy. Whether the asset is an on-premises piece of business-critical software or an outsourced Software-as-a-Service (SaaS) application, comprehensive technology escrow services protect the interests of technology developers as well as the businesses that purchase their products or subscribe to their services.
Escrowing software is a lot like creating a prenuptial agreement before you get married. You hope you never need it, but if worse situation arises, you want to be prepared. Escrowing software protects your company in the event that your relationship with your vendor takes a sour turn. It’s a smart move.
Once you decide to escrow your software (or other licensed technology), you need to draw up a list of all the items to be deposited. Otherwise, if one crucial element is missing, your escrow could be useless when you need it the most. The pinpointed deposit checklist is a key that will help you avoid making an incomplete deposit.
Deciding to escrow your software, or other licensed technology, is only the beginning. You need to ensure that everything agreed to be deposited actually makes it into the escrow account. If your software vendor suddenly goes out of business, you don’t want to discover that you’re missing key elements of your escrow deposit when you need it most. If you verify the contents of your escrow account, exercising an escrow release condition won’t become a high-stakes game of roulette.
Hire software escrow and verification service to help protect your company. We will work with you to list down the steps to take to safeguard your assets, build pinpointed lists, deposit the software and then verify.