The Importance of Software Escrow Services to Software Developers and Companies
Are you familiar of software escrow services? How can it benefit us? In case you want to learn more about software escrow services and its associated benefits, then you are advised to continue reading this article.
What Software Escrow Service Is?
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. It serves as their protection for these valuables like documents, money, intellectual property, and etc. These things are regarded as escrow when held by third parties, especially the source codes. The licensees of these source codes or the business enterprises that use them can request 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. Whenever issues and problems arise, such as lawsuits and bankruptcies, the produce licensors will be hindered to maintain or to update the computer application as agreed on the contract, hence these 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. These executable files are standalone and can run on their own, hence it is ready for use by the 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. They should choose one which fit their requirements and which serve their purpose best.
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. Opt for those escrow service providers which contracts are applicable not just to you but also to your customers.
The suggestions and pointers found in here will serve as your guide in finding reputable and dependable escrow services providers.