Why Companies Use Software Escrow Services
What is software escrow service? Can it be beneficial to users, agents and third parties? This article will give you more ideas and insights about software escrow services and its benefits.
Definition of Software Escrow Service
Software escrow service is the computer software source code deposit for also include the third party software escrow agent. The term “escrow” connotes the contract of the two parties for the deposit of the valuables to agents as third party. It serves as their protection for these valuables like documents, money, intellectual property, and etc. 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. The moment issues and problems occur, like law cases and bankruptcies, they will not update nor maintain the computer software as agreed on the contract, thus these source codes 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. As the name executable file connotes, it simply means that these computer programs are standalone and are ready for use by 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. To help you choose one, consider the tips showcased underneath.
1. Prior to dealing with any company, you are advised to dig deeper to know reputable and legit providers of escrow services.
2. Be sure to select a service provider that serves your goals and intentions well.
3. Be sure to check and to read the contract first before inking one. 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. You are advised to thoroughly check the contracts if these are suitable and applicable to you and to your clients.
The suggestions and pointers found in here will serve as your guide in finding reputable and dependable escrow services providers.