Why Companies Use Software Escrow Services
Are you familiar of software escrow services? Is it beneficial to companies and software programmers? In case you want to learn more about software escrow services and its associated benefits, then you are advised to continue reading this article.
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. 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 source codes or the business enterprises that use them can request 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 software developers are the ones who wrote and who developed the source codes, which are further processed to become executable files 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. 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. To prevent escrow-related issues and problems from arising, software developers are advised to choose their escrow service providers wisely and carefully. Adhere to the pointers and guidelines listed below to help you find reputable and dependable escrow service providers.
1. Prior to dealing with any company, you are advised to dig deeper to know reputable and legit providers of escrow services.
2. You are advised to select escrow service providers that serve the corporate goals and intentions very well.
3. Make sure that you carefully check and ponder on the stipulations mentioned on the contracts before signing 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. 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.