- ITSL undertakes Software Escrow Services in respect of highly valuable source codes involved with IT-Software/ Pharmaceutical Companies etc.
- Software Escrow essentially protects the software license by ensuring that the licensee only gets the access to source codes (& other connected materials) in the event that the licensor permits and/or in the event of occurring of any such other release conditions.
- The Source Code is usually underlying in a contract between a developer company (licensor) and customer (licensee) wherein the Licensor develops a source code which is an object code (binary form) of the software. But the licensee does not receive it and is dependent on the licensor for maintenance, updates and enhancements to the software.
- The licensor delivers a copy of the source code to the escrow agent i.e. ITSL.
- The brief scope of work for ITSL acting as Software Escrow Agent includes the following
- Keeping the said source code in our safe custody (fireproof cabinets within appropriate temperature) in the given locations.
- Confirmation to the parties towards the safe custody of the said source code
- Retrieval of the said source code as per the requirement of the licensor or licensee within reasonable notice to the escrow agent.
- Facilitate inspection of the said source code at the said locations within reasonable notice to the escrow agent.
- Any other role or responsibilities as stated in the escrow agreement.