The Importance of Software Escrow Services to Software Developers and Companies
Are you familiar of software escrow services? Is it beneficial to companies and software programmers? In case you want to learn more about software escrow services and its associated benefits, then you are advised to continue reading this article.
Definition of Software Escrow Service
Software escrow service is the computer software source code deposit for also include the third party software escrow agent. Well, the word “escrow” refers to the contract of the two parties for depositing valuables to the agent as third party. These contracts are serve as their protection for the valuables they have like money, intellectual property, documents and etc. These things are regarded as escrow when held by third parties, especially the source codes. The licensees of these products, or those who utilize the computer program can order their agents to hold. In simple terms, these escrow services serve as protection for the computer software licensees so they will still access its source codes the moment issues arise. The moment issues and problems occur, like law cases and bankruptcies, they will not update nor maintain the computer software as agreed on the contract, thus these 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. Because of these deals, the products will still operate and will still serve its purposes well even if the licensors are absent. If you are a computer programmer and you don’t want these problems to arise in the near future, then you should carefully and cautiously choose your escrow service providers. Adhere to the pointers and guidelines listed below to help you find reputable and dependable escrow service providers.
1. Software developers should do their share of research and homework first so as to determine which escrow services providers are established, reputable and legit.
2. You are advised to select escrow service providers that serve the corporate goals and intentions very well.
3. Be sure to check and to read the contract first before inking one. Should you have concerns and doubts, you should call your trusted lawyer to explain it to you.
4. Check the contracts if these are applicable to you and your clients.
The suggestions and pointers found in here will serve as your guide in finding reputable and dependable escrow services providers.
Source: software escrow external