Trade Secret Escrow

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Trade Secret Escrow

Anytime an organization is relying upon business critical intellectual property that is owned by another party a contingency plan may be prudent to ensure business continuity. A well-structured escrow agreement can protect the owner’s IP while providing the beneficiary with conditional access in certain, pre-negotiated circumstances.

PRAXIS offers the right mix of agreement flexibility, quality protections and experience to help you get real value from your escrow agreement.
PRAXIS provides escrow services to support:

Patent license agreements OEM agreements Embedded technology agreements Manufacturing agreements Reseller agreements Merger & acquisition activities Litigation

The circumstances under which the materials are released (AKA: Release Conditions) to the beneficiary vary widely and are often very customized to suit very specific circumstances.

Bankruptcy Total cessation of business Breach of support obligations Failure to deliver Price increases Change in ownership

Materials held in escrow for these types of transactions can vary widely from one transaction to the next.

Examples: Chemical formulas, passwords, recipes, manufacturing processes, client lists, cash, signed patent assignment documents, designs, drawings, disputed materials.

Satisfaction Guarantee

If you’re not satisfied with our service during the first 30 days for any reason, please let us know. If we cannot resolve the issue to your satisfaction, we’ll refund your money. No questions asked!

"I looked at the classic providers luckily I continued my search because I remembered the past difficulties with these classic providers. PRAXIS had all the things I was looking for, seamless integration to my development environment, streamlined onboarding processing for new clients, straight forwards pricing model and a responsive customer support mechanism. To date, I have recommended PRAXIS to other startups in a similar situations and will continue to do so."
OpenLegacy partner with Praxisescrow
Hans Otharsson,
OpenLegacy

Frequently Asked Questions

Intellectual property in the form of Trade Secrets such as recipes, designs, formulas, practices and many other types of intellectual property are often placed into escrow as part of a larger transaction, license or litigation.

The depositor and beneficiary are often at odds on this issue. Commonly depositors view a request or requirement for an escrow agreement as an insult or some form of distrust. Also, the escrow means extra work and risk for the depositor so they are often reluctant to agree to and fulfill the escrow. The beneficiary is simply trying to protect their business and their investment. As such, the escrow agreement should be negotiated in tandem with the larger agreement (i.e. Software license, SaaS agreement & etc.) and signed at the same time as the larger agreement. Once the larger agreement is signed, the beneficiary loses all leverage with regards to requiring the depositor to fulfill their escrow requirements. The signed escrow agreement is the first step on the continuum of escrow protection, but it Is critical because without the agreement in place the balance of the protections cannot be accessed.

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Why PRAXIS?

PRAXIS offers the right mix of agreement flexibility, quality protections and experience to help you get real value from your escrow agreement.