Document background
The Source Code Escrow Agreement is essential in software licensing relationships where the licensee relies significantly on the licensed software for their operations. This document, structured under Hong Kong law, provides a safety net for licensees while protecting the software owner's intellectual property. It's typically used when a company licenses business-critical software and needs assurance of continued access to source code if specific trigger events occur, such as the software owner's insolvency or breach of maintenance obligations. The agreement details the deposit materials, verification procedures, release conditions, and the escrow agent's duties. It's particularly relevant in Hong Kong's dynamic technology and financial sectors, where business continuity and IP protection are paramount concerns.
