While researching what a software escrow is, you have probably come across companies calling escrows several types of names. This list here will hopefully clear up some of the confusion.
This is the most common type of escrow and is designed to store mission critical application’s source code, configuration, virtual machines, build instructions and any other critical documentation.
These escrows can be used not only in connection with traditional on premises software licenses, but also development agreements, software acquisition agreements, and other transactions involving software.
While software escrows normally store on-site applications they can also store SaaS based applications assuming the extra protection and features a true SaaS escrow offers are not needed.
Technology escrows are designed to provide the same level of protection as software escrows; however, they contain a wider range of materials and apply to a wider range of licenses and technology deals.
Technology escrows can hold any piece of technology including, but not limited to, encryption keys, product designs, documents, prototypes, samples, chemical formulas and any other embodiment of technology that can be stored physically, electronically or in the cloud.
This flexibility allows savvy customers to use escrows to address a wide range of needs.
At EscrowTech India, we treat a technology escrow similar to a software escrow.