Software Escrow Services – Providing Maximum Security of Your Properties
Escrow usually refers to an agreement between two entities who entrust valuable assets to a third party or a mediator in the transaction process. The escrow agent can possibly hold money, intellectual property, or documents. All the valuable items are protected by the agent until certain instructions are given by the two parties. Whenever a the source code of a particular software is kept protected and private by an escrow agent or the third party then the software is believed to be in escrow. The company who will use the software can ask the agent to hold it in their behalf Software escrow services is a kind of protection given to both parties that is involve in a software licensee.
Makers of different programs write their own source code for their creation. Source codes are important in the world of programming, if these codes are not protected then one can just obtain them and install the whole program in their respective device. Just by having a background about applications with executable source code will allow a person to devise their own program. For software developers it is a must for them to assure their clients that whatever things that may happen, they will have the access to the source code of your program, this is where an escrow agent comes in play, they will only disclose the codes if there is a breach of contract made by software developer.
It is already a prevailing situation that there are some unscrupulous individuals that might take advantage of people’s business. Most of the time, there is a big amount of money involved in this type of transaction. Gone were the days wherein, buyers of different programs or applications are not safe from hoax and scam since they now have an escrow agreement which involves the source code of the applications sold by the developers. The price or rate of creating software is increasing these days and one way to keep you safe whenever you purchase software through the use of software escrow services.
The clients are not just the one protected from fraud but also those who are makers of the program itself. It is a prevailing fact that developing one’s program and software could be time consuming; this might even go for months and even years at the same time pricey. This is the right time to have a software escrow agent that will serve as the mediator of the whole transaction of the two parties, what they will do is setup the whole contract and let the two parties understand everything that they need to know. If by any chance any of the two parties involve in the contract have performed any breach of contract then the escrow agent has the right take action as mandated by the agreement.