The Essence of Using Software Escrow Services
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. All the valuable items are protected by the agent until certain instructions are given by the two parties. A software is believed to be in escrow if the source code of a particular file is protected by a third party or the escrow agent. 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.
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. As long as you have the right knowledge about software executable source code it is very much possible for you to have your own program or application. 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 these transactions involve substantial 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.
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 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 there are certain terms that are violated in the agreement, the escrow agent has the right to perform appropriate action base on the contract or agreement.