The Essence of Using Software Escrow Services
When you talk about escrow it basically refers to an agreement which involves a third party who will hold the properties and assets in behalf of the transacting parties. The valuables could be in a form of intellectual property, documents or money. All the valuable items are protected by the agent until certain instructions are given by the two parties. A software is called an escrow if the source code is kept confidential by an escrow agent of the third party. The one capable for asking the agents to keep the software are the ones who will be using the software. Software escrow services are usually done by two parties which are both involved in a a software licensee transaction.
A programmer can only make a program if they have with them their source code. 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 known fact that some people nowadays take advantage of other people. Oftentimes, the transaction involve significant amount of money. 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.
This type of agreement is not just beneficial to clients but also to the makers of the software. 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 software escrow agent will serve as the mediator of the licensee and the licensor not only they will mediate the transaction but also do all the necessary things for the agreement. 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.