Holding Trust Inc. - Escrow Overview

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Holding Trust Inc. - Escrow Overview

  1. 1. Source Code Escrow Overview Overview Presentation Deck Presenter February 2009
  2. 2. Presentation Overview What Is It? Basic Elements Of The Agreement When Is It Used? How It Works – The Agreement How It Works – The Service Holding Trust Inc. – Source Code Escrow Overview Slide 1
  3. 3. Presentation Overview, Cont’d Why Is It Used? Secondary Benefits Variations What To Look Out For / Best Practices How To Contact Us Holding Trust Inc. – Source Code Escrow Overview Slide 2
  4. 4. What Is It? Has been around in many industries in order to mitigate risk It is used to facilitate the transfer of property from one individual to another Essentially it consists of an agreement between three parties: You Supplier (Third Party) Escrow Agent Holding Trust Inc. – Source Code Escrow Overview Slide 3
  5. 5. Basic Elements Of The Agreement An item is deposited with a third person, an escrow agent It is held in trust or security It is delivered to the grantee or promisee on the fulfillment of certain future conditions Holding Trust Inc. – Source Code Escrow Overview Slide 4
  6. 6. When Is It Used? Liquidation Cease of Trade / Business Interruption Failure to maintain or meet service level agreements (SLAs) IP rights assignment (if the new owner provides no escrow protection) Assist in transfer of ownership of IP rights Security investigation of outsourced developed applications Holding Trust Inc. – Source Code Escrow Overview Slide 5
  7. 7. How It Works – The Agreement You enter agreement with agent and third party You Third party supplies right and source code to agent Third party provides your organization with the application Third Escrow Party Agent Supplier Holding Trust Inc. – Source Code Escrow Overview Slide 6
  8. 8. How It Works – The Service Business interruption occurs by the third You party supplier You contact the escrow agent notifying of event Third Escrow agent Escrow Party validates the concern Agent Supplier and releases the source code to you Holding Trust Inc. – Source Code Escrow Overview Slide 7
  9. 9. Why Is It Used? Peace of mind Scary marketplace where suppliers may go out of business Hedging your bets during application development Important aspect of risk management, business continuity and disaster recovery planning To be up and running in minimal time Holding Trust Inc. – Source Code Escrow Overview Slide 8
  10. 10. Secondary Benefits Encourages your supplier to apply safeguards internally to protect itself and its customers, as they want to protect the source code In the event of a business interruption, the quicker your operations are up and running the more able you are to retain positive branding Holding Trust Inc. – Source Code Escrow Overview Slide 9
  11. 11. Variations SaaS application / data Storage / transfer of decryption keys Transfer of Website ownership Third party critical applications Outsourced development of applications Other… Holding Trust Inc. – Source Code Escrow Overview Slide 10
  12. 12. What To Look Out For / Best Practices Hire an unbiased escrow agent Check certifications Include documentation in escrow Involve change management Create a hash for validation purposes Validate the software Ensure that data is protected (e.g. SaaS) Holding Trust Inc. – Source Code Escrow Overview Slide 11
  13. 13. How To Contact Us Web www.holdingtrust.com www.holdintrust.com Phone +1 416.910.5183 Email info@holdingtrust.com Holding Trust Inc. – Source Code Escrow Overview Slide 12

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