Key Escrow
A key escrow is typically a third party that safely stores a copy of private keys. They use the M of N control. The M has to be greater than 1 and the N has to be greater than the M. For example, if they employ 5 trusted individuals (N) then it would require at least 2 (M), each having part of the key.
This is in case a private key is damaged or lost. Making multiple copies of the private key becomes difficult to manage and could lead to compromise if stored on organization media.
A company could implement its own key escrow by having multiple trusted employees who have part of the key. This could be accomplished by having two or three of them have USB drives with part of the key.
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