Are you confused or curious about escrow?

Escrow is a legal arrangement whereby a thing (property such as art, a deed of title,chemical formulas or software source code) is delivered to a third party (called an escrow agent) to be held in trust pending a contingency or the fulfillment of a condition or conditions in a contract. Upon that event occurring, the escrow agent will deliver the thing to the proper recipient, otherwise the escrow agent is bound by her or his fiduciary duty to maintain the escrow account.