While law firms are often trusted advisors in matters of contract law, intellectual property, and technology transactions, they are not well-equipped to serve as software escrow agents. Software escrow is a complex service that requires a blend of legal, technical, operational, and cybersecurity capabilities—competencies that most law firms simply do not possess. Using a law

What is SaaS Escrow? SaaS escrow is like a safety net for your business. When a company uses software that lives in the cloud (called SaaS, or Software as a Service), they depend on the software company to keep everything running. But what happens if that company goes out of business, gets bought, or just

The recent move by the Commission on Elections (Comelec) in the Philippines to deposit the Final Trusted Build Source Codes for the 2025 elections with the Bangko Sentral ng Pilipinas (BSP) shows a strong commitment to transparency and election software integrity. In an era of digital trust and cybersecurity risks, documenting the status of election

Download the Case Study Below: Background A mid-sized speech recognition software company, VoiceTech Solutions (a fictitious name for privacy reasons), developed AI-driven voice recognition solutions used by healthcare providers, call centers, and enterprise businesses. Despite its innovative technology, the company faced financial difficulties due to increased competition and a costly legal dispute. In an effort

When investing in a business-critical software application—whether it’s a custom-built solution or a customized software or SaaS platform—it’s tempting to focus solely on functionality and go-live dates. However, protecting your investment with a software escrow agreement from day one is equally important. Many software beneficiaries (end users, licensees, or investors) mistakenly assume that an escrow

Download the Case Study Below: Disclaimer: This case study is based on actual events; however, the names and specific details have been altered to protect the privacy of the companies involved. Overview A mid-sized remote water metering technology company, AquaFlow Technologies, was required to participate in a technical verification process as part of its software

Download the Case Study A leading multi-tenant property owner relies on a SaaS application to provide a comprehensive tenant management software portal. The company needs assurance that in the event of vendor failure, business operations continue uninterrupted. PRAXIS Technology Escrow provides a comprehensive SaaS escrow solution, including source code escrow, data escrow, and a Recovery

Introduction Open-source software forms the backbone of many modern applications and business-critical systems. While open-source licenses grant freedoms to use, modify, and distribute code, relying solely on open-source components without additional safeguards can expose companies to risks such as discontinuation, lack of updates, or loss of critical modifications. By placing open-source code into escrow with

When it comes to safeguarding critical software and technology assets through escrow agreements, the governing law can make a significant difference in ensuring robust protection and enforceability. Companies worldwide are increasingly choosing to have their escrow agreements governed by US law, given its reliability, clarity, and global reputation. This blog explores the top reasons why