PRAXIS offers the right mix of agreement flexibility, quality protections and experience to help you get real value from your escrow agreement.
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What is Source Code Escrow?Source code escrow is the deposit of source code with a neutral third-party escrow agent. Additionally, source code escrow is important to secure software maintenance and to prevent software abandonment or orphaning. In the event of software failure, source code is typically required to modify, support, or maintain an application. The practice of requiring a source code escrow, as part of a larger transaction, is the cornerstone of any protection plan for licensed technology assets or significant investments in technology.
At PRAXIS Technology Escrow, we ensure your software investment is secure and protected, for all parties involved.
Do I Need Source Code Escrow Services?Business critical applications are completely dependent on the vendor. Therefore, source code escrow is necessary because the software is ran on the vendor’s hardware. In an event the vendor fails or goes bankrupt, the client does not have access to their data and is left with nothing.
At PRAXIS Technology Escrow, we are a neutral third-party that secures source code and protects all parties involved in a software license agreement. We provide flexible source code escrow services for all types of embedded, on-premise, and private cloud (hosted) software applications. Our source code escrow services are designed to leverage today’s technology to support the way you work. We understand today’s technology trends and have designed solutions for software and SaaS application development types.
Source code escrow agreements are used to support the following:
- Software License Agreements
- SaaS agreements
- OEM agreements
- IOT agreements
- Joint Ventures
- Embedded Technologies
- Investments in Software Companies
PRAXIS Technology Escrow provides:
- Automated Source Code Escrow - direct connectivity to GitHub, BitBucket and most other source code archival systems eliminates administration and dramatically improves source code escrow deposit quality.
- Customizable and Upgradable Solutions - flexible source code escrow agreements and multiple service options that grow with you.
- All-Inclusive Pricing - competitive fees with no surprises so you can budget with certainty.
- Satisfaction guaranteed!
PRAXIS supports both types of development methodology:
- Waterfall Development- major versioning with new functionality released on specified frequency.
- Agile Development - new functionality and releases added much more frequently, often weekly.
Here are some key questions to ask yourself in planning your source code escrow service:
- What happens if my software vendor goes out of business?
- What is the impact to my business if a critical software vendor fails?
- In addition to source code, what would I need to support the software without the vendor?
- Who would help me support the software if my vendor fails?
- Do I have ready access to a functional back up of my data?
- What release conditions make sense for my situation?
- How can I use the escrow deposit materials?
Interested in our source code escrow services? Please connect with our sales team at firstname.lastname@example.org.