Chris Smith

Safeguarding Trade Secrets in Medical Manufacturing: The Role of Escrowing Manufacturing Processes

In the competitive landscape of medical device manufacturing, trade secrets are often the lifeblood of businesses, providing them with a unique edge in the market. These trade secrets encompass a range of proprietary information, from manufacturing processes to formulations, crucial for maintaining a competitive advantage. However, when selling a medical manufacturing business built upon these […]

Safeguarding Trade Secrets in Medical Manufacturing: The Role of Escrowing Manufacturing Processes Read More »

Case Study: Safeguarding Business Continuity: PRAXIS’ Automated Software Escrow Depositing and Technical Verification Services Ensure Uninterrupted Operations and Avoidance of Costly Repercussions for a Financial Services Giant

Introduction: In the rapidly evolving technology landscape, businesses rely heavily on mission-critical software for seamless operations. This case study explores the pivotal role played by PRAXIS’ solutions, namely Automated Escrow Depositing and Technical Verification in preserving essential software build documentation and ensuring application continuity.   Client Overview: A prominent financial services company relied on a

Case Study: Safeguarding Business Continuity: PRAXIS’ Automated Software Escrow Depositing and Technical Verification Services Ensure Uninterrupted Operations and Avoidance of Costly Repercussions for a Financial Services Giant Read More »

Technical Data Escrow is the New Black

The U.S. Army sustainment community is addressing the challenges of emerging cyber threats, evolving technology, and innovation by near-peer adversaries. To support modernization efforts, the Army is reevaluating its approach to managing intellectual property (IP) which is vital for the military’s ability to modernize weapons systems while maintaining technological dominance. One such approach is technical

Technical Data Escrow is the New Black Read More »

10 Best Practices for Beneficiaries: Maximizing Protection in Software / SaaS Escrow Agreements.

This white paper outlines the ten best practices for beneficiaries when setting up software and Software as a Service (SaaS) escrow agreements. In the fast-paced world of technology, safeguarding digital assets is crucial. Escrow agreements act as a safety net, ensuring access to essential software and SaaS applications even in unforeseen circumstances. This document discusses

10 Best Practices for Beneficiaries: Maximizing Protection in Software / SaaS Escrow Agreements. Read More »

EscrowED: Exploring Software & SaaS escrow requirements implemented by states, industry organizations and corporations.

About this series: The software / SaaS  and technology escrow industry is unregulated but many states, industry organizations and corporations have implemented software escrow requirements to protect their investment in business critical software and SaaS applications. In this series of articles we will explore the different approaches taken to require escrow and discuss the challenges

EscrowED: Exploring Software & SaaS escrow requirements implemented by states, industry organizations and corporations. Read More »

EscrowED: Exploring Software & SaaS escrow requirements implemented by states, industry organizations and corporations.

About this series: The software / SaaS  and technology escrow industry is unregulated but many states, industry organizations and corporations have implemented software escrow requirements to protect their investment in business critical software and SaaS applications. In this series of articles we will explore the different approaches taken to require escrow and discuss the challenges

EscrowED: Exploring Software & SaaS escrow requirements implemented by states, industry organizations and corporations. Read More »

Software Risk Checklist

Technology escrow agreements are intended to provide end users with application continuity for mission critical, expensive or difficult to replace software and SaaS applications if the software vendor fails to perform, goes out of business or other pre-negotiated circumstances. All of the risks outlined below have been successfully addressed in escrow agreements in the past. 

Software Risk Checklist Read More »

Leveraging Software / SaaS Escrow: Enabling Technology to Serve as Collateral for Loans

Business critical software has become an integral part of modern business operations, and its value is recognized in various domains. To support innovation and growth, emerging software, SaaS and technology companies often seek financial assistance in the form of loans. However, lending institutions are naturally cautious about collateralizing intangible assets like software or other intellectual

Leveraging Software / SaaS Escrow: Enabling Technology to Serve as Collateral for Loans Read More »

What Are the Most Important Clauses in an Escrow Agreement?

A software escrow agreement is a legally binding contract that outlines the conditions and terms for storing and releasing the source code or other critical materials of a software application to a third-party escrow agent. While the specific clauses included in a software escrow agreement may vary based on the parties involved and their specific

What Are the Most Important Clauses in an Escrow Agreement? Read More »