Experienced in all aspects of IP protection
The team at Harbinger have decades of experience meeting the IP protection needs of its Australian and International clients.
We combine our skills in technology, law and IP protections to provide a superior option for our clients who seek the very best in intellectual property protection.They rely on us to add value to their business by guiding them and administering their escrow arrangements.
We reduce the risk of doing business with business partners, known or unknown companies, – in fact anyone who owns intellectual property that your business needs. We periodically run “release scenarios” to ensure that when a release request occurs, we have the experience and the procedures in place to administer the escrow terms with authority.
Conventional wisdom used to be that anyone other than the developer or end-user could serve as the escrow agent. Tis is no longer correct. Business has evolved and technology agreements have matured it is now agreed that there are critical characteristics that only an experienced escrow agent will be able to provide:
- Tenure – over a decade of experience servicing the Australian and international marketplace.
- Proven escrow agreements
- Best practice secure storage of the deposit material
- Proactive alerts and compliance reporting,
- Escrow agent neutrality
- Auditing validation and verification services
The use of “casual escrow agents” has dropped in the past twenty years. Typically they can only offer part of these necessary components. The following illustrates some of the short-comings of “casual escrow agents”:
Lawyers / Accountants – will likely have strong knowledge of the business / contracts and may be able to provide account information as needed. However, they usually lack the storage facilities and requisite experience in handling electronic data. Also, lawyers are seldom neutral third parties as they usually represent one party in the transaction.
Banks – Banks are often considered as escrow agents because of their physical vault facilities. However, bank vaults are not designed to store electronic media and banking industry employees typically have no training in this area. Further, their employees are not trained to handle electronic media. Over time, banks have learned that software escrow services are not in their core competency.