Intellectual Property & Trade Secrets.
EscrowNZ supports clients in building a strategy to identify and protect the IP they create.
Security = peace of mind.
How does it work?
The escrow process is simple:
Our Intellectual Property & Trade Secrets service protects the intellectual property, technologies, inventions, works of authorship, data, products, methods, tests, encryption keys, passwords, and other subject matter referred to in contracts, assignments, licenses, transactions or settlements.
Owners or licensees of IP use EscrowNZ to mitigate the risk of the programmer or designer not being available to provide this service in the future by holding the material in escrow.
We store materials in many forms - whether that be documents, drawings, electronic databases, samples, or prototypes. If agreed trigger events occur, the materials are released to the other party.
Pricing.
The base cost model for standard escrow services is simple.
One-off Setup fee: $195 + GST
Annual Escrow fee: $1995 + GST
Other Costs.
The following additional fees may apply:
Modifications to standard Escrow Agreement - from $195+GST
Release fee $250 + GST per licensee
Inspection fee $250 + GST per instance
Contested Release: recovery of any legal costs
FAQs.
Who is this service for?
EscrowNZ provides simple escrow solutions for your source code, data or documentation. Our service is designed to maintain the integrity and security of any business or project, while protecting all parties involved.
How do I deliver my material for escrow?
A copy of your source code, data or documentation must be saved onto physical media. Coded shipping labels can then be printed from the EscrowNZ client portal and attached to the courier pack, ensuring the anonymity of your material. You can also drop material directly in to our Head Office.
What is a trigger event?
A trigger event is a particular situation that, should it occur, would prompt the release of the material in accordance with the terms set out in the contract. The events (such as liquidation, sale of the business etc) are agreed up front and detailed in the contract, ensuring that all parties have transparency and trust in the process.
How do I access my material if needed?
If a trigger event occurs and the material in question is set to be released, EscrowNZ will liaise with the relevant party to get the material to them – via courier or pick-up.
If any party would like to inspect the material, we will organise a time for all parties in the agreement to meet and review it (with oversight from EscrowNZ), to ensure the material is protected and securely deposited back into our vault.
“EscrowNZ has supported our business for over 8 years.
They provide peace of mind for us and our clients with the secure services they offer. The process is simple and cost effective and adds value to our clients.”
— National software and solutions business