What is Intellectual Property Risk Management?
What Is an Intellectual Property Risk Management Agreement?
Intellectual property risk management helps protect organizations that depend on software, source code, technology, or other critical intellectual property owned by a third party. An independent escrow provider, such as InnovaSafe, securely holds these materials under an agreement that defines when and how they may be released to an authorized beneficiary. This provides continuity and protection if the technology provider is unable to maintain, support, or continue providing the application.
Why Use an IP Escrow Agreement?
Intellectual property risk management agreements help protect both technology providers and their customers by addressing risks that could affect continued access to critical software or technology.
Common reasons for implementing an agreement include:
- Protecting the licensee if the licensor fails to maintain or support the application.
- Providing continued access to critical technology if the licensor becomes unable or unwilling to provide support.
- Reducing business continuity risk caused by bankruptcy, acquisition, operational failure, or other disruptions.
- Helping the licensor demonstrate confidence in its technology and strengthen customer relationships by providing an independent escrow solution.
When Should You Consider an IP Escrow Agreement?
Ideally, an intellectual property risk management agreement should be established when the software license or service agreement is executed and before the technology is deployed. However, an agreement can be implemented at any time. If critical software or technology is already in use without escrow protection, the agreement should be established as soon as practical.
Independent Intellectual Property Escrow Protection.
InnovaSafe provides independent intellectual property and technology escrow services designed to protect mission-critical applications and assets. Since 2001, we have focused on responsive service, practical escrow solutions, and fair, transparent pricing.