To help safeguard your critical business systems Marine Software can, upon request, provide clients with the added service of an Escrow Agreement.
This allows an independent Escrow Provider (appointed by us), to hold our product source code in storage on behalf of nominated beneficiaries.
A trusted third party is involved to protect intellectual property.
Technology escrow services are required when two or more parties are negotiating a licence for mission-critical software or proprietary information. If the licensee of that software is concerned that the vendor will, for some reason in the future, no longer support that software, then the licensee will request that the source code be placed in escrow.
If a release condition occurs, the licensee will contact the trusted third party to request a release.
Depending on how the escrow agreement is written, the trusted third party would then notify the depositor and, if there is no contention, release that source code to the licensee.