IT & IP Escrow
EXE.legal is one of the few law firms in Lithuania offering IT & IP escrow services. Empowered by the guarantees offered by the Lithuanian Law on the Bar, EXE.legal is well-suited to offer you the necessary protection.
A software escrow is a deposit of source code of software and other materials with an escrow agent. This security-ensuring service is highly recommended for clients who have either developed an innovative software or technology, or have invested in licensing and using it.
An escrow service allows to protect both parties in the case of financial transactions where both buyer/licensee and seller/licensor want to ensure that they get their agreed part of the bargain.
Software escrow is also used in other cases. A software licensor wants to protect the company’s intellectual property and, therefore, refuses to include the source code in the license. A software licensee, on the other hand, seeks to ensure that their investment in the developer’s software is protected and needs to have access to the source code in case the developer goes bankrupt or can no longer maintain the software due to other reasons. A software escrow solution allows both parties to protect their specific interests.