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Escrow Facilities

Marine Software Limited can, upon request, provide customers with the added feature of an Escrow Agreement.

A trusted 3rd party, appointed by us, will hold in storage the source code for your system which will be available to you should the worst happen to us.

What is Escrow Technology?

A trusted third party is involved to protect intellectual property. Technology escrow services are required when two or more parties are negotiating a licence for mission-critical software or proprietary information. If the licensee of that software is concerned that the vendor will, for some reason in the future, no longer support that software, then the licensee will request that the source code be placed in escrow. If a release condition occurs, the licensee will contact the trusted third party to request a release. Depending on how the escrow agreement is written, the trusted third party would then notify the depositor and, if there is no contention, release that source code to the licensee. Without a technology escrow agreement, a licensee's investment in technology is unprotected. Recovering the source code of that technology by other means, such as the court system can take years - and by then it's too late to save the company's operations and resources that were tied to that technology.

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