Software end-users rely on software vendors to supply and maintain software. This exposes them to a new set of risks. In the event that their software vendor stops supporting them, an established escrow arrangement will protect their business by providing access to the source code and other information that they would need in order to continue to operate effectively.
Source code escrow is considered an essential part of modern technology services contracts. It not only delivers compliance with best procurement practices and meets Sarbanes-Oxley corporate compliance regulations, but most importantly it also reduces business risk.
Protecting intellectual property
Software developers and vendors accrue added benefits from escrowing their source code. Since Harbinger, as a neutral third party, dates and time-stamps all materials deposited into escrow, an escrow account creates an audit trail of the development of technology and provides independent validation of the ownership of the related intellectual property.
As Harbinger is an independent third party, it has the trust of the courts to vouch for the existence and ownership of your intellectual property.