Frequently Asked QuestionsFAQs to National Software Escrow, Inc.
Frequently Asked Questions
About National Software Escrow, Inc.
We are a privately-held company located in Brecksville, Ohio. We have been providing intellectual property escrow services since 1986. We protect Technology Vendors and Licensees by acting as a third party, storing intellectual property in a secure location, and permit access if an event agreed upon by the parties occurs.
What’s up with the cube?
The cube within our logo is a representation of our Services. The outer cube represents our organization and the inner, represents our clients’ assets. The cube represents security, stability and protection.
How long has NSE held intellectual property in escrow?
Since 1986, we have held intellectual property in escrow.
How many customers does NSE have?
Over 2,000 customers worldwide place their trust in our organization.
What types of Escrow Arrangements are available?
We offer the following Escrow Arrangements:
- Single Beneficiary (1 Technology Vendor / 1 Licensee)
- Multi-Beneficiary (1 Technology Vendor / multiple Licensees)
- Multi-Vendor (1 Licensee / multiple Technology Vendors)
Does NSE provide template Escrow Agreements?
Yes. We provide template Escrow Agreements for use when utilizing our Services.
Is there a fee to use NSE’s Escrow Agreements?
No. The use of our Escrow Agreement is free-of-charge when utilizing our Services.
Can the terms and conditions of NSE’s Agreements be reviewed?
Yes. Our Agreements can be reviewed free-of-charge.
Can the default terms and conditions within NSE’s Agreements be modified?
Yes. The majority of our customers use our Agreements as written; however, we have no objections, upon review and acceptance, should you wish to modify the terms and conditions to satisfy your requirements.
Is there a fee to modify NSE’s Agreement?
Possibly. An additional fee is added to the 1st year escrow fees if substantive modifications are made to our standard Agreement, the determination being made in the sole discretion of our organization and communicated to the Parties before signatures and fee payments.
What are the steps for establishing a Single Beneficiary Escrow Agreement?
- Provide us with the official corporate names, physical addresses and contact email addresses for the organizations that will be acting as the Technology Vendor and Beneficiary.
- We will prepare the Agreement and send to the parties for signature.
- Once the Agreement is fully executed, documentation will be sent to the parties instructing how to deposit the materials into escrow.
What are the steps for establishing a Multi-Beneficiary Escrow Agreement?
- Provide us with the official corporate name, physical address and contact email addresses for the organization that will be acting as the Technology Vendor.
- We will prepare the Agreement and send to the Technology Vendor for signature.
- Once the Agreement is fully executed, documentation will be sent to the Technology Vendor instructing how to deposit their materials into escrow. Escrow materials will be stored, maintained, secured and preserved in a 16,400 foot firelock vault designed for the storage of magnetic media. Optionally, escrow materials can be stored and secured in electronic format.
- To enroll a Beneficiary, the Technology Vendor will complete Escrow Form 2.2 titled, “Additional Beneficiary Registration” and forward it to the Beneficiary for signature purpose. Upon our receipt of the form executed by both parties, as well as the Beneficiary’s 1st year escrow fees, the Beneficiary will be officially enrolled to the Escrow Agreement and documentation will be forwarded to them confirming this fact.
What are the steps for establishing a Multi-Vendor Escrow Agreement?
- Provide us with the official corporate name, physical address and contact email addresses for the organization that will be acting as the Beneficiary.
- We will prepare the Agreement and send to the Beneficiary for signature.
- To enroll a Technology Vendor, the Beneficiary will complete Escrow Form 2.2 titled, “Additional Technology Vendor Registration” and forward it to the Technology Vendor for signature purpose. Upon our receipt of the form executed by both parties, as well as the Technology Vendor’s 1st year escrow fees, the Technology Vendor will be officially enrolled to the Escrow Agreement and instructions will be sent to the Technology Vendor so that they may deposit their escrow materials.
How are NSE’s Escrow Agreements prepared?
We will prepare the Escrow Agreement (PDF or hard-copy) and send to the parties for execution purposes.
How is a Deposit made?
Escrow Materials can be submitted in physical or electronic format, via Physical or Electronic delivery.
“Physical Delivery” means deposit by any non-electronic delivery manner such as, courier, courier service, postal service, mail service, hand-delivery, or any physical delivery in which data stored on tangible medium exchanges possession from one entity to another entity. Formats for a Physical Delivery can be optical disc storage (CD-ROM, Compact Disc, (CD), Digital Video Disc (DVD), etc.), removable storage, hard drive, portable storage, memory card, memory stick, or any other tangible computer-readable medium.
“Electronic Delivery” means deposit by electronic transfer such as electronic mail (email), File Transfer Protocol (FTP), or any other electronic transfer that communicates data from one storage location to another storage location. Formats for Electronic Delivery include any file format that can be stored on a computer-readable medium.
What are the features of NSE’s Storage Facilities?
With over 25 years of experience, your intellectual property will be safe and secure. When you select our organization, escrow materials will be stored, maintained, secured and preserved in either Physical or Electronic Format. If Physical Format is required, the Escrow Materials shall be stored, maintained, secured and preserved in a 16,400 foot “Firelock” vault that features:
o Certified Halon fire suppression system
o Computer-controlled humidity and temperature levels
o Vault and building monitored by 24-hour surveillance and security system
o Air filtration system
If Electronic Format is required, the Escrow Materials will be stored, maintained, secured and preserved with:
o File Encryption using applicable and appropriate standards. Encryption for storage is applied after files are uploaded
o Data storage over several large-scale data centers throughout the world.
o Protection against network security issues, e.g., Distribute Denial of Service (DDoS) attacks, Man in the Middle (IMITM) attacks, and packet sniffing
o Redundant backups for data over multiple locations
We offer a secure file upload service for clients’ electronic material storage. Our website is secure and protected using a verified Secure Socket Layer (SSL).
Does NSE send notification to the parties upon receipt of an Escrow Deposit?
Yes. We will issue a receipt to the parties upon receipt of the initial Deposit Materials and for each subsequent deposit. Such receipt verifies a delivery to our organization, but not a verification of the contents of initial Deposit Materials and/or for each subsequent deposit.
Can updated deposits be made periodically?
Yes. The parties may define the frequency (quarterly, semi-annually, etc.) of additional deposits.
What happens to the previous deposit if an Update is deposited?
Unless instructed by the parties otherwise, the previous deposit will remain in escrow.
Is there a “cap” on the number of Updates that can be deposited?
No. The parties may define the frequency of deposits (quarterly, semi-annually, etc.) after the initial deposit is made.
Does NSE charge a ‘Set Up Fee’ or ‘Media Storage Fee’?
No. A fee is not charged for setting up your Escrow Agreement, nor do our fees vary based upon the size of your deposit. For additional information regarding our fee schedule, please contact us.