TL;DR:
Choosing a software escrow company requires evaluating trustworthiness, security, and industry expertise. EscrowTech stands out with its decades of experience, robust security measures, and flexible, customizable agreements, trusted by half of the Fortune 500.
The first step in creating and executing a software escrow agreement is choosing an escrow agent. These third-party professionals are instrumental in the secure transfer of your source code, build instructions, and associated IP. The top software escrow companies have experience with both technology and the law. These professionals can guide you toward an amicable, equitable agreement.
How do you choose the source code escrow company that will be responsible for securing your mission-critical data?
In this guide, we’ll explore what to look for in a software or source code escrow company. Then, we’ll compare the top software escrow companies to determine which are best equipped to meet your needs. Continue reading to learn why the best software escrow companies in the nation stand out.
What to Look for in a Source Code Escrow Company
The most crucial quality to look for in a software escrow agent is trustworthiness. You need to trust the company to keep your mission-critical source code secure. They should be reliable, proactive, and utilize the most current technology in their practice. If a release condition is met, you will only experience peace of mind if you believe your agent will make things right.
Here are ways to ensure you’re choosing a software escrow agent you can trust.
Research Its Reputation and Experience
Who else is trusting the escrow agent with their company’s mission-critical assets? Most reputable escrow companies will proudly share the names of businesses and organizations they work with.
Look closely to see how many major companies and brands are included on that list. Does it include Fortune 500 companies for whom losing source code would come with high stakes? That is a good measure of a company’s trustworthiness.
Likewise, find out how long the escrow company has been in business. Software escrow has existed since the advent of software. The service began in the early 1980s. Thus, companies may have 40 or more years of experience in this space.
Ask About Security Measures
Where and how does the escrow company store their source code and other assets? Reputable organizations take security seriously. They may have multiple off-site storage facilities.
You can ask about the conditions in those facilities. Are they natural-disaster proof? Fireproof? Do they meet federal archival storage standards?
Remember, in some cases, your escrow company is more than a third-party legal partner. They may be able to help you recover software after a major adverse event. If you were handing them your only copy of the source code, would you trust them? Ensure you can confidently answer “yes” to that question.
Look Into Customization Options
The top software escrow companies aren’t locked to boilerplate escrow agreements. They’ll customize every aspect to ensure they’re meeting your needs.
You should feel some sense of control while drafting the agreement. While a reputable, experienced agent can speed things up, you should always be part of the conversation. If there is no flexibility, look elsewhere.
Consider Both Technical and Legal Expertise
When it comes to software escrow, legal expertise alone won’t cut it. You need professionals with experience with technology. They should be up to date with the latest advancements in the field.
Likewise, they should be able to communicate with you as a peer, using industry-specific language. Expertise is key to streamlining communications.
Furthermore, experienced tech escrow agencies can offer services like technical verification. That adds an additional layer of peace of mind to the proceedings.
Comparing the Top Software Escrow Companies
As time goes on and technology continues to advance, established escrow companies are becoming defunct. Even one of the oldest escrow companies, Iron Mountain Escrow, has been acquired by a company overseas.
Likewise, many small companies with little experience or expertise have begun to spring up. Many offer “one size fits all” services with little versatility or customization.
Be aware that, more often than not, you get what you pay for with software escrow companies. Noticably low prices should be a red flag, not a selling point. You’ll find these “budget agents” have storage facilities that are subpar.
Likewise, remember that you are paying for specific industry expertise. Specific experience with technology escrows matters.
Why EscrowTech Is the Best Software Escrow Company
EscrowTech has been providing software escrow services since 1992. That makes them one of the oldest established domestic agents today. Unlike other escrow companies, they continue to grow, change, and educate themselves. That’s why they’ve been able to keep up with the dynamic tech landscape and remain in business today.
Their long-term, off-site storage vaults are:
- Natural disaster-proof
- Fireproof
- Powered by an independent power source
- Guarded 24/7
- In compliance with federal requirements for archival storage
- Located inside a remote granite mountain
Furthermore, EscrowTech is proud to work with half of the country’s Fortune 500 companies. Each of these major organizations trusts EscrowTech to keep their mission-critical source code safe. Their clients include major tech companies like Intel, Dell, Microsoft, Hewlett-Packard, and more.
Their satisfied clientele appreciates EscrowTech’s flexible and customizable agreements. Each one is tailored to meet every business’s unique needs. Because EscrowTech agents are well-versed in tech and the law, they offer additional services. You can opt for technical verification or additional IP protection.
Experience the difference for yourself. Learn more about software escrow and work with one of the best software escrow companies in America.