Software Escrow Services – Providing Maximum Security of Your Properties
A transaction between two parties can be mediated by what you call an escrow agent; escrow on the other hand refers to an agreement made by two parties who entrust their valuables to the escrow agent. The things that both parties deposit to an escrow agent could be in a form of documents, money, and intellectual property. The items that the agent is keeping will be protected until certain instructions are given to them. 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 In other words the main purpose of having a software escrow service is to protect both parties involve in a software license.
A programmer can only make a program if they have with them their source code. If the source code is transferable and can be performed in other programs then you can simply obtain the source code and install it in your device. For those who have some knowledge in software executable source code will be able to devise an application they can call their own. If by any chance the makers of the software have violated any things stipulated in the contract like bankruptcy, obsolescence, inability to update the whole program then the agent has the power to disclose the source code that they can work with.
It is already a known fact that some people nowadays take advantage of other people. Most of the time, there is a big amount of money involved in this type of transaction. With the help of an escrow contract, buyers of particular software are protected and far from danger, this is even better since there is an involvement of source code and software. If you want to be safe whenever you purchase software to a particular developer then you must keep in mind and apply this so called escrow agreement, this way you can avoid scams.
It is vital for software developers to enter in this kind of agreement for this will not just benefits their clients but to the as well. Having your own software is not as easy as you think this will require a lot of time, money and effort on your part which is why entering in some kind of agreement is very essential. The main objective of having an escrow agent is for both parties to have a mediator of the process who will be the one to setup the terms and conditions in the whole contract and of course both parties will be there to discuss everything in it as well. 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.