Escrow Solutions
NCC Group specifically designs Escrow Solutions to assist organizations which are increasingly dependent on crucial assets which they don't own or control. 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.
Escrow is a straightforward process where an independent provider holds a copy of the intellectual property underlying these assets. 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.
There are many types of Escrow agreement, including:
- Software Escrow or Source Code Escrow
- Hardware Escrow
- Data Escrow
- Product Design Escrow
- Manufacturing Process Escrow
- Business / Marketing Plan Escrow
- Industrial Formulae Escrow
- Website Design / Architecture Escrow
- Funds or Assets for transfer of ownership
The most popular service we offer, Software Escrow Agreements are contracts between three parties – the software developer (the Licensor or Developer), the end user (the Licensee or User) and NCC Group Inc., acting as an independent neutral third party Escrow Agent.
Under the terms of the agreement, the Licensor agrees to place a copy of the source code with the Escrow Agent and the Escrow Agent agrees to hold the source code securely. The Escrow Agent is empowered to release the escrow deposit to the licensee only in the event of certain predefined events. These events typically include the insolvency of the licensor or its failure to provide support and/or maintenance services as defined in the license agreement. In most escrow agreements, the Licensor has the right to dispute the occurrence of a release event, or claim that it has been corrected to the Licensee’s satisfaction.
An escrow solution 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. The escrow solution 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.
NCC Group Inc. offers a range of Escrow Solutions including:
This Escrow Agreement protects software application source code, including Websites and Web Applications. Learn more about Software Escrow
Active Escrow provides real-time updates to an Escrowed deposit along with comprehensive reporting.
Learn more about Active Escrow
This Escrow Agreement is designed specifically to protect the data and functionality provided by browser-based hosted Software as a Service (SaaS) Applications. Learn more about SaaS Escrow
This Escrow Agreement is protects hardware configurations and infrastructure documentation. Learn more
This Escrow Agreement protects product designs, manufacturing processes, marketing materials, and industrial formula. Learn more abour Hardware Escrow
This Escrow Agreement is designed to simplify financial transactions over IP licensing arrangements. Learn more about Lender Escrow
Registry & Registrar Data Escrow
This Escrow Agreement is 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. Learn more about Data Escrow
The escrow agreement facilitates an expedient and comprehensive release of tangibly defined and packaged IP assets. The involvement of NCC Group as a neutral escrow agent ensures smooth transfer of assets within a contractually defined timeframe while conducting impartial and objective analysis of the materials to provide assurance of the integrity of the materials held in escrow.
For more information on Escrow Solutions, please contact us today.