The Importance of Software Escrow Services to Software Developers and Companies
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
When we talk of software escrow service, we refer to the software source code deposit that includes 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. 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. 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 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. Nevertheless, when issues and problems arise, the software developers are hindered to make the changes, updates and maintenance to the source codes, thus escrow agents transferred these tasks are to the software’s licensees. Because of these contracts, the products will still serve its purposes despite the absence of the licensor. 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. Follow the suggestions listed below to assist you in finding reputable 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. Make sure that you carefully check and ponder on the stipulations mentioned on the contracts before signing one. When in doubt, consult your lawyers first.
4. Opt for those escrow service providers which contracts are applicable not just to you but also to your customers.
You should adhere to the tips and suggestions found in this write-up should you want to get the services of these tradesmen.