eXact learning solutions signs a groundbreaking escrow agreement

escrow agreements for LCMSGENOA, Italy – Aug. 4, 2016 – PRLog — Global learning company, eXact learning solutions, has signed an escrow agreement with NCC Group, a FTSE 250 sted global expert in cyber security and risk mitigation.

Valerio Torda, eXact learning solutions’ Managing Director, explained, “We value our customers and work hard to deliver software solutions which meet their key business requirements – as well as build strong relationships based on trust.

“We recognize our responsibility to help these customers ensure their business continuity through the long term performance and availability of our software,” he added. “That’s why we’re taking the groundbreaking step of working in partnership with the global information assurance provider, NCC Group, to offer our customers business continuity protection through this escrow agreement.

“Under the terms of the agreement, our company has deposited the eXact learning Suite source code – including that for our flagship product the eXact learning content management system (LCMS (http://www.exact-learning.com/exact-learning-lcms/)) – within NCC Group’s secure facilities. This means that, from now on, we can offer this extra level of security to our customers – so that, in the extremely unlikely case of something happening to our software or company, our customers will always be able to utilize our software.”

Under the terms of eXact learning solutions’ escrow agreement, the company supplies NCC Group with a copy of the source code for their customers’ applications. NCC Group holds this, securely, on the customer’s behalf. This source code is regularly updated to ensure that the source code held by NCC Group is always up-to-date and reflects the current version of the customer’s application.

“In the extremely unlikely event that eXact learning solutions becomes unable to meet its contractual obligations, NCC Group will release the source code to the customer, allowing that customer to maintain and correct its software without disruption to its operations,” Mr Torda stated.

About Escrow

The word ‘escrow’ derives from the Old French word ‘escroue’, meaning a scrap of paper or a scroll of parchment. This indicated the deed that a third party held until a transaction was completed. An escrow is:

  • A contractual arrangement in which a third party receives and disburses money, documents or software for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties,or
  • An account established by a broker for holding funds on behalf of the broker’s principal or some other person until the consummation or termination of a transaction,or
  • A trust account held in the borrower’s name to pay obligations such as property taxes and insurance premiums.
  • Source code escrow is the deposit of the source code of software with a third party escrow agent. Escrow is typically requested by a party licensing software (the licensee), to ensure maintenance of the software.

    About eXact learning solution

    eXact learning solutions is a leading business solution provider in the field of Digital Learning Content Management. Its content lifecycle care solutions include modular and interoperable tools enabling, supporting and optimizing specific processes within a Digital Learning Content ecosystem: collaborative content creation; structured and workflow-based content management, and multiple output delivery of content in any desired format, channel, device and language, with any look & feel.

    The eXact learning Suite comprises a fully-fledged, enterprise-wide Learning Content Management System (eXact learning LCMS), a professional template-based authoring environment, comprising an advanced, local client application and a 100% web-based tool (eXact learning Packager and Online Editor) as well as an app to manage, deliver and track learning content through iOS and Android-based mobile devices (eXact learning Mobile). The eXact learning solutions’ end-to-end provisioning is completed by a set of high level professional services including consulting, training and technical support in the field of Digital Learning Content Management.

    eXact learning solutions is a sister company of LATTANZIO Group, a holding company based in Italy which integrates knowledge-intensive business services blending management consulting, IT services, training and e-learning, market research and communication.

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    Escrow: Wat is het en eet ik het met mes en vork?

    Escrow: Wat is het en eet ik het met mes en vork ?Mr Ernst Loendersloot schreef als columnist voor de Telegraaf en NTRS.nl onder de titel: Escrow: Wat is het en eet ik het met mes en vork? het volgende interessante stuk:

    Internet en software zijn overal en we kunnen niet meer zonder. Daarom vroeg een internationaal opererend bedrijf uit Maastricht advies over de volgende situatie.

    Het bedrijf had een grote machine in haar bedrijfshallen staan om rollen metaal om te vormen tot verkoopbare precisie-producten. Dit eindproduct wordt onder meer door de fabrikant van Duitse sportauto’s. Duidelijk was dat die machine in ieder geval eigendom was van het bedrijf. Maar hoe zat het met de software die geschreven was om de machine aan te sturen ?

    Maastrichtse productiemedewerkers konden weliswaar kleine aanpassingen invoeren in de machine, maar grotere aanpassingen van het productieproces zouden aanpassing van de software noodzakelijk maken.

    Lees de oplossing in het volledige artikel: Escrow: Wat is het en eet ik het met mes en vork?

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    Plan Grounding Points Up Value of Escrow

    Plane grounding points up value of escrowIn a recent post Andrew Stekhoven pointed out the value of escrow.

    The nearly hour-long grounding of 150 United Airlines planes earlier this year – which resulted in an estimated loss of $3 555 000 (R35,55-million), a share price fall of nearly 4% and other business impacts to scheduling, ecosystem delays and brand impact – highlights the power of software escrow.

    Read more: http://it-online.co.za/2015/10/05/plane-grounding-points-up-value-of-escrow/

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    What’s the best escrow company to store IP (intellectual property) for safe keeping and will be released when something happens to the di…

    Answer by Sander Remans:

    Escrow Agents are not created equally and don't all provide the same services or have the same knowledge base and vision. Some have been around for a while and have become used to market dominance which in turn has lead to complacency or they are purely sales driven to the point that there is little or no client service .

    There are other innovative escrow agents that are leading the pack. These companies may not have been around for as long but they have a reliable knowledge base that extends beyond the business, they have a vision and they realise the importance of building and maintaining client relations.  To decide wether an Escrow Agent is right for you depends very much on what type of IP you want to protect.

    We always advice our clients to request quotes from at least 2 other agents to compare and assess the quality of information, reliability of the agreement and whether or not contact with the escrow agents service staff is professional and meets their requirements.

    Most escrow arrangements require adjustments to fit the requirements of both the supplier and the beneficiary. A thorough process and fact finding mission are fundamental in the delivery of an agreement that works for all parties involved. Most important of course is that the agreement will meet all the relevant needs should the supplier fail to deliver.

    In addition to the agreement the materials that are entrusted to the escrow agent should be verified prior to deposit acceptance and will need to be updated as frequently as the actual application is updated. The escrow agent should play an active role in ensuring that an up-to-date version of the deposited material is received, verified and deposited  (for the duration of the agreement).

    Here are a few questions that you should ask yourself when considering and  escrow agent:

    • Are the escrow agreements easy to read and understand?
    • Are the interests of supplier and customer protected?
    • Is deposit treated confidentially and protected by a secure process?
    • Does the escrow agent execute professional verification services?
    • Can the verification service be extended and upgraded by choice?
    • Is the depot securely stored in at least 2 vaults?
    • Can the escrow agent provide contactable references?
    • Does the escrow agent offer competitive rates?
    • Does your escrow agent offer fixed rates and do you know what you will need to pay for additional services?

    I am assuming that the second half of the question relates to the release of deposited materials, in this case IP, should the supplier be unable to continue delivering the service.

    Part of setting up an escrow agreement includes discussing and agreeing on the point at which deposited materials should be released.  Also discussed is the process that will be put in place should this happen. Materials are usually released when the supplier is unable to continue supporting his client e.g because of bankruptcy, discontinuation of a product etc. Remember, an escrow agreement is put in place to ensure the continuity of business at a moment in time when this could be jeopardised. A good escrow agent will ensure that the needs of both the supplier and his client are met whilst remaining at all times objective and focussed on the best solution for all involved.

    What's the best escrow company to store IP (intellectual property) for safe keeping and will be released when something happens to the di…

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    Renflex stelt software veilig via Escrow

    Escrowregeling van RenflexDe producten van Renflex Software zijn meer en meer onmisbaar voor haar klanten. Voor deze klanten is het van groot belang dat deze software veilig en betrouwbaar is én blijft. Via een Escrowregeling bij Ottens IT-notaris en de beoordeling door Software Borg zijn Renflex en haar klanten hiervan verzekerd.

    Renflex deponeerde op 29 juli 2014 de broncodes van haar software bij IT-notaris Ottens in Veenendaal. Voorafgaand controleerde een technisch inspecteur van Software Borg de broncode op volledigheid en werkzaamheid. Met een positief resultaat; de software voldoet aan alle strenge kwaliteitscriteria. Door het deponeren van de broncodes zijn de auteursrechten vastgelegd.

    Alle licentienemers van Renflex kunnen deelnemen aan de escrowregeling. De regeling zorgt voor continuïteit, zowel de rechten op het gebruik van de software als het onderhoud zijn veiliggesteld.

    De licentienemers voldoen nu aan de wettelijke plichten en hebben de informatiebeveiliging geregeld.

     

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    Gebruiksrechten blijven in stand na faillissement

    Schermafdruk 2014-07-29 12.31.45De Hoge Raad heeft in juli 2014 in een zaak tussen de ABN AMRO Bank en Berzona kans gezien haar uitspraak in het Nebula-arrest van 2006 nader uitgelegd.

    Eén van de conclusies op basis van Nebula is dat dat de curator het recht heeft te wanpresteren op licenties. Dit blijkt niet de bedoeling te zijn geweest van de Hoge Raad.

    Meer over deze uitleg en een toelichting door Rosalie Heijenga van SOLV

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    VUE Software levert escrow voor de gemoedsrust van haar VUE klanten

    Schermafdruk 2014-07-29 12.05.30Coconut Creek, Florida, 22 juli 2014 / PRNewswire / – VUE Software heeft vandaag aangekondigd dat zij een overeenkomst heeft gesloten met de NCC Group, software assurance leverancier. Zij levert software escrow en business continuity diensten aan klanten van VUE.

    “Hoewel we altijd al software escrow hebben meegeleverd aan onze klanten, wilden we onze klanten de zekerheid geven dat hun investering in VUE Software veilig is en onder controle.” zegt Stephen Bruno, CEO van VUE Software.

    Ondernemingen maken zich zorgen over het risico over het verlies van bedrijfskritische applicaties  of door wanprestaties op de software licentie-overeenkomst. Met escrow diensten hebben VUE’s software klanten de zekerheid hebben dat hun software veilig bewaard wordt en de actueel wordt gehouden als er nieuwe versies worden uitgebracht.

     

     

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