The Importance of Software Escrow Services to Software Developers and Companies
Do you know what software escrow services are? Is it beneficial to companies and software programmers? If this is the first time that you heard about software escrow service, then you can benefit by reading this article further.
Definition of Software Escrow Service
Software escrow service is the computer software source code deposit for also include the third party software escrow agent. The term “escrow” connotes the contract of the two parties for the deposit of the valuables to agents as third party. These contracts protect their valuables like intellectual property, money, documents, money and many more. These things are regarded as escrow when held by third parties, especially the source codes. The licensees of these source codes or the business enterprises that use them can request their agents to hold. In technical terms, the escrow service as protection of software licensees so they can access the source codes should problems arise or should something goes wrong. When these problems, like bankruptcies and lawsuits, the licensors will not be able to update or maintain the computer software as what is agreed on the agreement, hence the source codes are released to licensees.
The software programmers developed the source codes of the computer software, which are processed to become executable files with .exe extensions. As the name executable file connotes, it simply means that these computer programs are standalone and are ready for use by computer users. Nonetheless, when problems arise, the software developers will not be able to make changes and updates, thus the escrow agents transferred the rights to the licensees so they will be the ones to make the needed updates and maintenance when necessary. In this manner, the operations will still continue as updates and changes are made even if the licensor is not present. To prevent escrow-related issues and problems from arising, software developers are advised to choose their escrow service providers wisely and carefully. Follow the suggestions listed below to assist you in finding reputable escrow service providers.
1. Prior to dealing with any company, you are advised to dig deeper to know reputable and legit providers of escrow services.
2. Be sure to select a service provider that serves your goals and intentions well.
3. Be sure to check and to read the contract first before inking one. When in doubt, consult your lawyers first.
4. Opt for those escrow service providers which contracts are applicable not just to you but also to your customers.
The suggestions and pointers found in here will serve as your guide in finding reputable and dependable escrow services providers.
Source: source code escrow services