The purpose of the Escrow Agreement is to guarantee the future use of the software for the Licensee (hereinafter: User). Under certain conditions, the source code of the software is made available to the User, so that he can maintain it for his own use.
Software is generally not sold to the User, but he receives a license. However, this license relates to the use of the runtime (machine version) of the software. To adapt or expand the software, the so-called Source Code is required. This is the code, written in a programming language, which is readable and maintainable for the programmer.
Because the Source Code is often the Intellectual Property of the Software Supplier (and thus represents its future income), a Software Supplier is usually unwilling to give the source code to the User. As a rule, however, the Supplier is prepared to deposit the Source code with an independent third party (Softcrow). By signing the Escrow Agreement, the supplier grants the User a right to use the source code if Softcrow makes it available under the conditions of the Escrow Agreement. The Intellectual Property Rights on the software remain with the Supplier at all times.