Confidence and peace of mind often yield mutually beneficial business transactions. When it comes to licensing mission-critical software, both parties will seek to protect their respective best interests, often prompting the need for an impartial third party to facilitate a trusted relationship.
An escrow agent serves in such a capacity, allowing the source code for licensed software to be held in a secure escrow account. If the developer is not able to support its product in the future, conditions within the escrow contract will dictate whether the source code is released to the licensee. This arrangement enables the licensee to preserve their software functionality when necessary – and in the meantime, provides that the developer's intellectual property is protected.
As an escrow agent, Iron Mountain not only secures source code in their heavily fortified facilities, but also offers verification services to ensure that the deposited materials are complete, current, and fully functional. The end result: licensees bear the confidence of knowing that their software's source code is readily accessible to recreate, maintain, and support related applications going forward.
Iron Mountain offers the most comprehensive and proven Technology Escrow Services in the industry, and has now expanded its international presence by partnering with ESOP Excellence, a leading provider of financial services to the technology community in Israel. ESOP Excellence acts as an independent and trusted third party to the flourishing Israeli tech market, bearing a core competency that aligns seamlessly with that of Iron Mountain. As the only escrow agent meeting Office of the Chief Scientist (OCS) compliance regulations, Iron Mountain Technology Escrow Services represents the world class standard in intellectual property management, and is proud to announce their partnership with ESOP Excellence.
To learn more about ESOP Excellence, please visit here.
Iron Mountain is a world leader in information management services, assisting more than 140,000 organizations in 39 countries with storing, protecting and managing their information.
Iron Mountain is a world market leader in providing Escrow Services per IP (publicly traded in NYSE, S&P 500 Company, and a member of the Fortune 1000), serves as the information management partner of more than 97% of the Fortune 1000 companies.
Iron Mountain safely stores some of the world's most valuable historical artifacts, cultural treasures, business documents, intellectual property and medical records. To properly protect and render this information, Iron Mountain employs almost 20,000 professionals and an unrivaled infrastructure that includes more than 1,000 facilities, and 10 data centers.
For US-based escrow services, please visit Iron Mountain here.
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