As a trusted and neutral third party, InnovaSafe provides specific solutions that assist licensors to compete effectively with their larger competition, manage their intellectual property, comply with various legal obligations and secure much-needed funding with asset-backed loans.
Additionally, our solutions help licensees manage risk and protect their investment in mission-critical technology and allow venture capitalists, lenders and investors to protect their investments by using proprietary technology as collateral. Risk management is a key element that is directly related to the creation and licensing of critical technology.
InnovaSafe offers a variety of technology protection services including:
• Source Code and Software Escrow
• Intellectual Property and Technology Escrow
• Asset-Backed Lending Escrow
• Technical Verification Services
What is Intellectual Property Escrow?
Specifically, it's when a neutral third party, such as InnovaSafe, holds mission critical intellectual property applications based on the terms and conditions of an agreement created by the licensor, the licensee and the neutral third party. The neutral third party is tasked with the implementation of the terms and conditions of the intellectual property escrow agreement. Although used prior to 1988, the power of the IPEA was increased when President Reagan signed the Intellectual Property Bankruptcy Act into law in 1988.
Why Use Intellectual Property Escrow?
Well, the following are some very good reasons that an intellectual property escrow agreement should be implemented:
• The licensee requires protection and assurance against the licensor's failure to maintain or support the application properly; and / or
• The licensee requires protection and assurance against the licensor's failure to maintain or support the application indefinitely; and / or
• The licensee requires protection and assurance against the licensor not being able to maintain or support the application for