Digital Escrow & Software Escrow

Digital Escrow and Software Escrow

What is digital escrow and software escrow ?

                  Digital & Software Escrow Process

Escrowing digital assets (which includes software) consist of a licensor depositing their digital intellectual property (IP) with an escrow agent for safe keeping and releasing the IP to a licensee upon specific conditions that are defined in the escrow agreement

Digital IP can take a variety of forms including technical documents, drawings, trade secrets, blue prints, formulas, software source code, encryption or licensing keys or anything that is of value and digital in nature.    

Since 1991, Bankers Escrow has provided dependable, reliable, and secure third party digital and sofware escrow services nationwide. We operate as the trusted neutral third party (escrow agent) for both the licensor and the licensee.

We understand the importance of protecting proprietary programs and preventing trade secrets from falling into the wrong hands, while at the same time balancing the need to allow customers to legitimately access such property for the benefit of their business should a vendor dissolve, file bankruptcy or fail to maintain and update digital IP as promised in their license agreements.

What types of digital escrow services are provided?

Bankers Escrow provides digital deposits and physical deposits of digital IP and we can customize a solution to meet your requirements and your clients.

The varieties of escrow include:

  • Two or three party escrow with licensor and licensee
  • Multiple beneficiary escrow with deposit certificates issued to each licensee
  • Digital IP document and file holding escrows for proprietary materials

Options to store your digital escrow deposit:

Bankers Escrow provides multiple options to deposit and store your valuable digital IP.  Your digital deposit can be software source code or any other varity of value IP such as fomulas, documents, blueprints, drawings, prototypes and other proprietary material.  The IP can be contained on physical media (jump drive, CD, etc.) and stored in our physical storage or the IP can be uploaded digitally to our secure cloud storage vault. 

Physical Storage

All deposited materials including digital IP and proprietary documents are stored in locked fireproof file cabinets in a secured office. Bankers Escrow provides an initial inspection of the deposited materials and receives a written owner's representation that the tangible media contains the source code or IP described in the escrow agreement. Bankers Escrow examines all deposited materials by visually checking the tangible media and documents.

Online Storage (Secure Cloud Service -  coming soon)

All digital IP or software source code can be uploaded to our secure cloud vault.  Secure and separate access control is provided to each licensor's cloud vault and after the licensor uploads their digital IP, Bankers Escrow examines the deposit and provides a certificate of files on deposit to the licensor and the licensee(s). 

Our cloud service has the highest security requirements and compliance standards, including ISO 270001, ISO 27018, PCI DDS, SOC 1 (SSAE 16) Type II, SOC 2 Type II and SOC.

Note: Neither storage solution includes a technical verification of the tangible or digital media held in escrow.

What industries and clients use digital escrow and software escrow?

  • Small and medium size businesses (SMB)
  • Software development companies
  • Financial institutions (banks, credit unions, and title companies)
  • Legal representatives for various scenarios
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