Software Escrow Services: Knowing More of It and Its Associated Benefits
What is software escrow service? How can it benefit us? 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
Actually, the computer software escrow service refers to the source code deposit for computer software that also include the agent for third party escrow. Actually, the word “escrow” means the contract of the two parties for the deposit of valuables to third party as agent. These contracts protect their valuables like intellectual property, money, documents, money and many more. These items are considered escrow when held by the third parties, particularly the software course codes. The licensees of these products, or those who utilize the computer program can order their agents to hold. In laymen’s terms, these escrow services will serve as the protection of computer software licensees so they can access the source codes whenever issues and problems arise. 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 computer programmers are the ones who developed the program by writing the source codes, which are then further processed to become executive programs, these are the applications containing .exe as extensions. Since these executable files are standalone, users can install and use it whenever they want to. 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. Be sure to select a service provider that serves your goals and intentions well.
3. You are advised to check, to review and to understand the guidelines and conditions stipulated on the contracts before signing them. Whenever you have questions, issues and doubts, you are advised to call and to confer with your lawyers so they will explain them to you thoroughly.
4. Check the contracts if these are applicable to you and your clients.
The suggestions and pointers found in here will serve as your guide in finding reputable and dependable escrow services providers.
Source: source code escrow services