Defense Systems August 14, 2020
One of the key concerns for all government agencies — especially DOD with its national security mission — is what happens to the technology they have procured when a commercial developer determines that it will no longer support that version of the technology, merges with or is acquired by another company, goes out of business or no longer has the ability to make changes to the software source code or underlying technology. On a basic level technology escrow is a legal agreement between all parties involved in a technology transaction. It is managed by a neutral, third-party escrow agent with the ability to secure the developer’s intellectual property and release the IP under agreed upon terms…read more.