For the user (licensee), software escrow is a vital part of an intellectual property plan and strategy. The ability to access source code in the event of a software owner being unable to support and maintain the software source code, can be critical for the user. In many ways a software escrow arrangement is an invaluable insurance policy against unexpected events.
For the software owner, an escrow agreement is an important part of any bespoke software licensing deal. It offers extra security to the user and shows that the owner has confidence in his company and his software, and also values the business of his customer.
What will Intellect Enterprises do with the source code?
Intellect Enterprises will arrange for the source code to be held in safe custody. The source code will be treated as confidential and will not be released to a user unless a release event occurs (see Terms of Business (pdf 33KB) for further details).
