Escrow Agreement For Code
Description
How to fill out Escrow Agreement For Code?
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FAQ
Source code escrow is the deposit of the source code of software with a third-party escrow agent. Escrow is typically requested by a party licensing software (the licensee), to ensure maintenance of the software instead of abandonment or orphaning.
A source code escrow agreement typically instructs the agent to release the source code to the licensee if and when a specified event occurs, such as the licensor becoming insolvent or defaulting on its maintenance obligations under the principal license agreement.
Intellectual property escrow is the use of an escrow service company that helps you gain an extra layer of security for your intellectual property. These companies help protect your valuable IP, which helps reassure your potential licensees that any investment made in your technology is safe.
As an indicator, a Single Beneficiary Software Escrow Agreement for source code including unlimited deposits from Git repos such as GitHub, Bitbucket or GitLab would cost $1,895 / £1,395 per year.
Verification services to ensure that the source code can be built into a working application would typically be requested by the beneficiary. As such, the fees associated with these services would be paid for by the beneficiary.