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Form of Escrow Agreement Corporate Counsel FindLaw

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Form of Escrow Agreement Corporate Counsel FindLaw

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hi I'm Jonathan from codekeeper in today's video we are going to answer the question what is a software escrow agreement when you decide to make the investment to protect your business continuity by way of software escrow the first step is to draw up an escrow agreement a software escrow agreement is a legally binding contract usually entered in to buy the depositor also known as the software licensor and the beneficiary also known as the software and user it holds important information about the different parties involved in the agreement details about the material to be put into escrow and specifications relating to the release conditions a release event is any event that causes you to lose access to the software that is critical for your business continuity this can include anything from bankruptcy System Failure to a natural disaster when a release event is triggered the material that is held in escrow is released to the beneficiary this adds an extra layer of secur

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