The Major Benefits You Get From Software Escrow Services
When you talk about escrow, it basically means a contract which usually means protection between two parties who were able to deposit something of value to the third party as the agent. It may be money, intellectual property, or it could even be important documents. These things will be held by the agent until there is a certain condition met. So, when it comes to software, it will be in escrow once a third party, also known as an escrow agent, is taking hold of the source code of such software. The software’s licensee or the company who is utilizing the software will be the ones to request the agent to hold. In other words, when you talk about software escrow services, it considered to be a form of protection to the licensee of the software to make sure that they will be able to access the source code when things go wrong.
A particular program can be created by a programmer by writing a source code. Some of these programs have source codes that can be transferred to programs known as executable programs (files with “.exe” extensions), so it means to say that a user will be able to use the program applications so that it would be easier for users to install. People who knows or have the experience about software executable source code can easily create applications without any difficulty. When the developer of the software files for bankruptcy, or perhaps they were not able to deliver on the updates and maintenance of the software that they promised, the escrow agent will now have the authority to release the software source code to the licensee so that they can work with it.
You should also know for a fact that there have been issues of deceptions for this. Ones that would involve a great deal of money. If you use an escrow agreement, the one who purchased it will certainly have some form of protection that is effective as far as software and source code are involved. With the cost involved in software developing these days, you will definitely enjoy the benefits given by the services of escrow agents.
The software developer will enjoy protection especially against fraud if they use escrow. Developing software programs could not only take you months or years but a huge amount of money as well. In order to make both parties understand just exactly what they have to expect from software escrow agent, an agreement will be set up with both the licensee and licencor. In case the terms of conditions are not fulfilled, you can expect the escrow agent to take appropriate actions within the escrow agreement decided by both parties. Here are the services you can avail from software escrow: software escrow, technology escrow, and source code escrow services whichever would match your business needs.