ESCROW OF DEFINITIVE MEANS
Ensuring the optimal, uninterrupted operation of tailor-made information technology is critical for any company that depends on such technology for the provision of its services, in order to guarantee business continuity and minimize operational and economic risks.
The deposit or escrow of the source code, in its executable version, in the hands of an independent depositary agent, which is a Trust company licensed by the Superintendency of Banks, ensures on one hand, that the concessionaire will have access to said code only when the owner does not comply with his obligation to maintain and update, as stipulated in the License and escrow agreement, and on the other hand, it offers the developer a very useful marketing tool, as well as an opportunity for additional income, by including within its offer the option of ensuring continuity of service.
It is understood that the intellectual property of the material deposited in escrow will always remain in the title of the developer and will never be transferred to the licensee in any case.
IPAL Trust Corp. makes its experience and data storage technology available in this fiduciary area, offering the Escrow Agent the service for the custody of the necessary materials to ensure that the interdependence relationship created by software licenses is guaranteed during the validity of the contracts that govern them.