Programs Tips for The Average Joe

Software Escrow Services: What You Need To Know

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. The agent will be expected to take a hold of such valuable things until everybody reaches a certain condition. In this case, if a software is in escrow, it means that the source code of such software is currently being held by an escrow agent. 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.

It is the programmer who writes a source code in order to create a particular program. There are programs where source codes are transferable to so that users will be able to use the program applications just by installing them. Anyone who is knowledgeable or those who have the experience about such executable source code will then be able to create applications by their own. The escrow agent can actually release the software source code to the licensee when the developer company of the software fails to deliver on the updates and maintenance of the software or if they file for bankruptcy.

There are also issues regarding fraud or deceptions nowadays. And these sometimes involve such a huge amount of money. The purchaser will have protection if he is able to use an escrow agreement and is even more effective as far as source code and software 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 best thing about escrow is that the software developer will be able to protect himself against fraud. 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. The escrow agent will have to take appropriate action whenever the terms of condition are not met which has already been decided in the escrow agreement. The services offered by software escrow services are: software escrow, technology escrow, as well as software escrow.

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