The Use of Software Escrow for Lawyers, and Not Just Their Clients
Published on 02/10/2024
Within the world of law and technology, Software Escrow has emerged as a crucial tool that lawyers implement in their client projects. Many lawyers recognise Software Escrow as a protective measure for their clients, one that ensures uninterrupted access to source code in situations where software vendors encounter issues.
Additionally, the growing recognition of Software Escrow’s role in business continuity planning has led to a rise in legal contracts in which an Escrow Solution is an essential requirement.
Whilst Software Escrow can form the foundation of a client’s risk mitigation strategy, its benefits extend beyond that, offering considerable advantages to lawyers as well.
Whilst many lawyers educate their clients on the optimised level of risk mitigation that’s provided by Software Escrow, it may not be a tool that they utilise themselves. For lawyers, an Escrow Solution can offer:
It is the duty of lawyers to protect and safeguard their clients. Examples of critical applications used by law firms include case management software, communication and collaboration software, and document automation software. The running of these applications impacts a range of stakeholders, from clients through to fellow law firm employees.
Software Escrow ensures that lawyers have uninterrupted access to these applications, regardless of the occurrence of crisis events and/or disruption.
The implementation of business continuity assurances withing their own workflow demonstrates a lawyer prioritising the security of all clients that are in some way impacted by the software that they use. For clients that are seeking lawyers who place client safeguarding at the forefront, a lawyer that proactively utilises Software Escrow may be favourable.
New laws and regulations are increasingly being enforced across all industries. For example, the Digital Operational Resilience Act is being implemented in the EU Finance sector in January 2025. Regulations such as DORA are designed to make industries more operationally resilient and robust in the face of challenges.
Software Escrow is an exceptionally beneficial tool for both clients and lawyers. For lawyers, the internal implementation of an Escrow Solution supports an increased level of client safeguarding, enhanced negotiating power, alignment with legal compliance, and the safeguarding of intellectual property.
As technology continues to become more influential, the role of Software Escrow in the legal field can only become more significant, making it an essential consideration in modern legal practice.
The team at SES Secure are passionate about educating the law community on the extensive benefits of Software Escrow for business continuity and operational resilience. We are proud to have a partnership with The Society for Computers and Law, the leading educational charity for the tech law community. Our resources for legal professionals can also be found on the Lexology website.
If you have any questions or would like to speak to a member of the team, please get in touch or give us a call on 0161 488 1400.