A technology escrow agreement works much the same way as an insurance policy. When two parties enter into a licensor/licensee relationship, the source code for the technology in question is deposited into an escrow account that ensures:
• Licensors have a trusted partner who will securely hold onto the source code and release it only under very specific and controlled conditions
• Licensees may gain access to the source code for mission-critical software and other technologies should the licensor/developer no longer support it for any reason
Iron Mountain created the technology escrow industry in 1982 to help companies protect software source code, object code, data and other valuable technology assets. Today, we are the world’s leading provider of intellectual property management services, with a comprehensive range of Software Escrow, Software-as-a-Service (SaaS) and Domain Name Records Management Solutions.
Of course, escrow is just a part of the solution. Studies have shown that 80-90% of all technology escrow deposits are incomplete—which is why Iron Mountain complements our Escrow Services with the industry’s most advanced Escrow Verification Services. Our trusted experts validate that the escrowed technology includes all the components necessary to read, recreate, maintain and support applications if there is ever a need for a deposit release. In short: verification makes sure that what you’re paying to escrow is what you actually need.