Why Solutions Aren’t As Bad As You Think
The Major Benefits You Get From Software Escrow Services
Escrow basically means a contract that deals with protection between parties who deposit something of high value to a third party being the agent. And by something valuable, it could mean documents, money, or even intellectual property. 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 ones who will be requesting the agent hold it is the licensee or the company of the software. Therefore, to put it simply, software escrow services is made in order to protect the software’s licensee so that they will still be able to access the source code in case something goes wrong.
It is the programmer who writes a source code in order to create a particular program. Some programs are made with a source code that is transferable to executable programs (such as files with extensions ending in “.exe”), so that users can simply use the program application just by simply installing them to their computers. People who knows or have the experience about software executable source code can easily create applications without any difficulty. When bankruptcy is filed by the company who developed the software, or if they were not able to deliver the updates and even maintenance of the software that they have actually promised, then escrow agents are expected to release the source code of the software to the licensee so that they will be able to work with it.
Issues regarding fraud is actually on the rise these days. 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.
With escrow, the software developer will now be protected against fraud. Developing some software programs would actually involve a huge amount of money and it could take months or even years. Software escrow agent will have to set up an agreement with both the licensee as well as the licencor just so both parties will be able to understand what exactly is expected of them. Should they fail to meet the terms of condition, the escrow agent will then take proper action that is already decided in the escrow agreement. You can actually choose from the following software escrow: source code escrow, software escrow, and technology escrow services.
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