Source Code Transfer Escrow
Source Code Transfer Escrow for an Online gaming platform
This award-winning online gaming company contracts a percentage of its gaming development to expert third parties, ensuring that they can create the best user experience for its customers.
SES was approached to help solve a stalemate situation where the software development had been completed but the contractual arrangement had not clearly indicated who owned the final development, the gaming company or the third party development company.
After agreeing a solution with both parties, SES provided an IPR and Source Code Escrow transfer arrangement. SES witnessed the third-party developer build, test and deploy the game in an independent external environment. This process was documented and recorded and a full copy of the source code was then placed in Escrow. SES facilitated a payment from the Gaming Company to the third-party developer and upon funds being cleared, released the full copy of Source Code and IPR confirmation to the gaming company.
The gaming company launched the online platform to its customers to earn back its investment and the third-party developer was finally compensated for the development of the platform.