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.