Are there any special issues to consider when dealing with intellectual property such as software or patents?
Yes. The Seller must provide the Buyer appropriate documentation to prove ownership and rights to transfer. This documentation may include, but is not limited to, the following: software licensing documentation, appropriate software installation keys and codes, ownership transfer forms, patents, copyright forms from the U.S. government, etc.
In addition, we strongly recommend that the Seller draw up an ownership transfer document stating specifically what intellectual property is being traded and containing the signatures of both the Buyer and Seller. Some of our customers have their attorneys draw up such documents although this may not be necessary in any given case.
Please note, the premier service is not available for intellectual property. Escrow.com suggests that when starting this type of transaction you choose General Merchandise and No Shipping Needed as transaction terms.