Software Escrow Services – Providing Maximum Security of Your Properties
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. 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 agency that has plans in using the software can as the agents to keep the software. In other words the main purpose of having a software escrow service is to protect both parties involve in a software license.
In order for programmers to make their own program they make use of source codes. 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. For those who have some knowledge in software executable source code will be able to devise an application they can call their own. 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.
There are a number of individuals nowadays who are a victim of fraud and deception. Most of the time, there is a big amount of money involved in this type of transaction. Since there is now an involvement of software and source code in an escrow contract, buyers of software can be assured that they are safe from those individuals who might lure them. As of today, more and more people create programs and software that are sold in the market and clients should know that there is already a safer way to purchase and that is through an escrow agreement.
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. Developing your own program and software is no joke, you will need to spend a great deal of time, money and effort in order to make a high quality output. 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 violated any rule or part of the agreement then the escrow agent has every right to perform necessary actions as mandated in the contract or agreement that they have formulated.
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