Escrow Services
We offer cost-effective, no nonsense, escrow solutions for software developers, website designers and database developers, providing the legal agreements that underpin them as well as the ongoing escrow agency services. Agreements start at around £400 + VAT and can normally be provided on 24 hours’ notice.
Escrow services are effectively trusted third party services for the holding of source code to cover the eventuality of major default or insolvency of the IT developer retaining the intellectual property rights in software.
Put simply, it allows the code to be deposited with a trusted third party to be kept confidential to the developer and only to be release in pre-agreed circumstances and then limited to certain functions so that it does not impact the sale of the rights by a liquidator – in essence it is to protect the buyer whilst protecting the developers main asset.
Escrow services are of great comfort to buyers and therefore help companies market their products effectively whilst protecting their assets.
