California Escrow and Security Agreement between On Site Media, Inc., Site-Based Media, Inc., and Citibank, N.A.
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FAQ
A Software Escrow Agreement protects your investment by guaranteeing the long-term availability of third-party software and data while preserving the developer's Intellectual Property Rights (IPR).
Technology escrow is a service that mitigates the risk of technology acquisition. With an escrow contract, software source code or other IP from the developer is placed in a secure escrow account held by an escrow agent?a trusted independent third party.
An escrow agreement refers to a contract that outlines the terms and conditions of a transaction for something of value ? such as a bond, deed, or asset ? which is held by a third party until all conditions have been met.
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 software escrow agree- ment allows the licensee to re- quest that the escrow agent release the source code of the product to the licensee so that the licensee may, at its own expense, make the necessary adjustments to the software to allow it to operate properly.