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. Actually, the word “escrow” means the contract of the two parties for the deposit of valuables to third party as agent. These contracts are serve as their protection for the valuables they have like money, intellectual property, documents and etc. These items are considered escrow when held by the third parties, particularly the software course codes. The licensees of these computer software, or the businesses that utilize it can request 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. 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 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. These executable files are standalone and can run on their own, hence it is ready for use by the computer users. However, when issues arise, computer software developers will not be able to maintain or to update them, thus escrow agents released the source does to the licensees so they will be the ones to make updates and changes when needed. In this manner, the operations will still continue as updates and changes are made even if the licensor is not present. 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. You are advised to select escrow service providers that serve the corporate goals and intentions very 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. 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.