The Importance of Software Escrow Services to Software Developers and Companies
What is software escrow service? 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. Actually, the word “escrow” means the contract of the two parties for the deposit of valuables to third party as agent. 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 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 developers are the ones who wrote and who developed the source codes, which are further processed to become executable files containing .exe as extensions. As the name executable file connotes, it simply means that these computer programs are standalone and are ready for use by computer users. However, when issues arise, computer software developers will not be able to maintain or to update them, thus escrow agents released the source does to the licensees so they will be the ones to make updates and changes when needed. Because of these deals, the products will still operate and will still serve its purposes well even if the licensors are absent. Due to the importance of escrow services, it is vital for computer programmers to choose its provider wisely. Adhere to the pointers and guidelines listed below to help you find reputable and dependable 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. You are advised to select escrow service providers that serve the corporate goals and intentions very well.
3. You are advised to check, to review and to understand the guidelines and conditions stipulated on the contracts before signing them. Should you have concerns and doubts, you should call your trusted lawyer to explain it to you.
4. You are advised to thoroughly check the contracts if these are suitable and applicable to you and to your clients.
Be sure to follow the pointers showcased in here whenever you are planning to get the services of these companies.
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