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Source Code Escrow Definition: Source Code Escrow is a legal agreement that allows a third party to hold and release the source code of a software application to the customer in case the software vendor goes out of business or fails to maintain the software.
Source Code Escrow is a contractual agreement where a software vendor deposits the source code of their application with a third-party escrow agent. In the event of specified triggers such as the vendor going out of business or failing to meet support obligations, the source code is released to the licensee, enabling them to maintain, update, and support the software without the vendor's direct involvement. This safeguards the continuity of the software's operation and maintenance in critical situations.