Case Study: My Experience With Programs

Important Things You Should Know About 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. 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. 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.

A programmer writes a source code in order to make 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. Ones that would involve a great deal 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.

With escrow, the software developer will now be protected against fraud. Developing software programs could not only take you months or years but a huge amount of money as well. 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. 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. 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.