Chester, United Kingdom (PressExposure) November 17, 2009 -- Escrow is a straightforward process where an independent provider holds a copy of the intellectual property underlying these assets. These assets include the software behind business-critical functions, managed internally or through an outsourcer, or designs of proprietary products or processes, or formulae supplied by a third-party.
Holding these crucial assets securely with the supplier's agreement on the end user's behalf, NCC Group ensures the material can be accessed and released to the user quickly and legally should the supplier's business fail or they do not maintain their contractual obligations.
An Escrow can include many different areas such as, Software / Source Code., Hardware, Data, Product Designs, Manufacturing Processes, Business or Marketing Plans, Industrial Formulae, Website Designs / Architecture & Funds or Assets for transfer of ownership
NCC Group offers a range of Escrow Services including:
Software escrow protects software application source code, including Websites and Web Applications.
Active escrow provides real-time updates to Escrowed deposit with comprehensive reporting.
SaaS escrow designed specifically to protect the data and functionality provided by browser-based hosted Software as a Service Applications.
Hardware escrow protects hardware configurations and infrastructure documentation
Technology escrow protects product designs, manufacturing processes, marketing materials, and industrial formulae
Lender escrow designed to simplify financial transactions over IP licensing arrangements
Registry & register data escrow designed to help Registries and Registrars maintain ICANN accreditation under the Registrar Data Escrow (RDE) provision depositing a backup copy of their gTLD registration data.
An escrow service should provide both the Licensor and Licensee with the assurance that the value of the partnership shall be realized by both parties, regardless of circumstances that may arise in the future. It will build a stronger partnership between the Licensor and Licensee due to the mutual trust and understanding delivered by the security of an escrow arrangement.