Imagine the following situation: a large bank buys a software license to run its normal business. The company that created the software has its headquarters in a seismically active area. A large earthquake sends the company (and all its employees) into non-existence. The next day a bug is detected in the software at the bank. Who is going to fix this bug?
Software escrow helps in such situations. It is a service provided by a third party company called an escrow agent. An escrow agent employee comes to the software development company, performs a source code examination, checks the documentation and the build of the software last delivered to its customer from scratch. The software agent is able to continue to develop the software if something happens to the original creator. The source is then buried somewhere safe and hopefully remains there until the new version is escrowed.
We are very pleased to report that our software was escrowed at our partner location with our employee present!