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What is software or technology “escrow”?

April 26, 2017escrow Software Technology

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What is software or technology “escrow”?

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Escrow is the placing of something in safekeeping with an independent, third-party to secure it. For software or other technology, escrow is the deposit of source code, website or database contents, documentation or other intellectual property that Developers wish to keep safe and accessible for themselves and for the benefit of their Licensees who purchase and use their technology.