Guide to Software Escrow Services
A source code software deposit which includes a third party escrow agent is a software escrow service.
The one in charge of the maintenance is the licensee who requests basic escrow.
Failure of the licensor to update or maintain the software as formally agreed upon either because of bankruptcy or any other reason, then the licensee will be give the source code of the software.
If you are the license owner you should understand that escrow has requirements to be met. Custom software is offered to different companies by software escrow services which are very critical and vital to the company itself.
Whether the licensor is in a position to do so or not due to bankruptcy or other issues, operations and maintenance of company software shall continue.
Doing this is possible if you get the updated copy of the source code. Most licensors will be reluctant to give out the source code because this represents a trade secret which is actually closely guarded.
Software escrow services then have a solution which will do away with this conflict of interest, where the source code escrow will assure that the licensed person can get his access to the source code when it has been established that the maintenance of the software cannot be assured as it was stated in the contract agreement which has been agreed upon by the two parties.
What you can benefit from a software escrow services is free software.
You need to understand the point right before singing any contract, and you need to read it for yourself to understand the terms and condition which will be written in black and white.
The escrow agreement will be found to be well described and which is applicable to clients who had custom software developed and which generally will not be made available to the general public.
This software was developed specifically for you and design to fit to your liking and your office operations. Open source or ransom ware are the terms used for free software.
Adopting a software escrow process is convenient for many reasons. Investing in the source code for licensees is encouraged by the presence of this escrow agent. On the other hand, the company that developed the software can provide its services without exposing its secrets and intellectual property.
Optional services provided by the escrow agent can help licensees to certify the evolution of the software and maintain and upgrade functionalities over time. It give the licensee the ability to maintain an application in-house indefinitely or gives the licensee the luxury of taking its time until the replacement technology can be identified and implemented with a new vendor.
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