Technology Escrow as a Licensee: 7 Steps to Best Practices

Here’s What you Need to Know About Technology Escrow as a Technology Licensee

Follow these 7 Steps to Achieve Best Practices

Step 1: Establish a core teamStep 2: Define Your escrow policyStep 3: Create a repeatable processStep 4: Verify your developer’s compliance to

the escrow agreementStep 5: Protect your cloud (SaaS) technologyStep 6: Review your current escrow agreementsStep 7: Maintain Your escrow agreements

Escrow is a part of your risk management strategy so you should have representation from all departments involved in your organization’s risk management strategy.

Try for no more than 8-10 members.

Step 1: Establish a Core Team

Using the chart to the right, add up the quadrants to what technology should be in escrow.

Low: Not necessary to be in escrow

Medium: Evaluate further depending on application use

High: Should definitely be in escrow

Step 2: Define Your Escrow Policy

Creating a repeatable process will simplify your escrow process. Elect for a Master Escrow Agreement to include your organization’s terms and conditions for every escrow you set up.

Step 3: Create a Repeatable Process

Verification is the validation of the deposit materials in your account.

This will allow you do validate that the materials you need are in escrow so in the event of a deposit release, you can use the materials as intended.

Step 4: Verify Your Developer’s Compliance to the Escrow Agreement

Did you know that 79% of all SaaS providers do not guarantee application continuity?

The cloud is risky business so you want minimize the risk of licensing cloud technology in any way that you can.

Step 5: Protect Your Cloud (SaaS) Technology

Step 6: Review Your Current Escrow Agreements

How do your current escrow agreements match up to your new standards?

Think about the types of agreements you have, your release conditions, the release process, and your verification history.

Step 7: Maintain Your Escrow Accounts

Want to learn more? Download the full guide now.