DataBank is Israel’s leading provider of data protection and intellectual property management services. Since 2002, DataBank has protected customers’ intellectual property for technology vendors and their customers.
More than 1,000 companies trust DataBank to protect their vital data, software source code and other intellectual property.
DataBank follows rigorous standards to keep our customers’ data safe, including security-industry best practices coupled with practices developed by DataBank. The DataBank Escrow service solution provides security at every level, from the initial deposit to secure underground offsite storage.
The Israel Chief Scientist Office has approved DataBank as a verified technology escrow agent. This allows companies that have received funding from the CSO to execute an escrow agreement with a beneficiary that is a non-Israeli entity.
If the licensee of the technology is concerned that the vendor will, for some reason in the future, no longer provide support, then the licensee will request that the technology or source code be placed into an escrow account.
If a release condition occurs, the licensee will contact DataBank to request a release. Depending on how the escrow agreement is written, DataBank would then notify the depositor and, if there is no contention, release that technology or source code to the licensee.
Whilst the source code is held by DataBank, it is stored in the DataBank media vault that is a secure underground facility that adheres to all international standards.
DataBank Israel has the ability to provide a range of escrow services including the following options