Monday, January 18, 2010

Software Escrow Services, What's This?

Posted by shah shahid

Software Escrow Services, What's This?

Many Security Companies serves as escrow agent. Businesses increasingly rely on information technology by third parties for development management. However, because of cheaper costs and intellectual property protection, it is very common in these transactions that both software development and licensing company to conduct a licensing interest between them without including the delivery of the sources of the applications.

One risk in this type of licensing is that in cases of disappearance or breach of contract software developer, the licensee may be deprived of access to source code to correct or adapt to new requirements.

Escrow Software service was created to resolve this situation. Through this service the developer deposits the materials needed to maintain or modify the source code of an application in the hands of a neutral third party known as Escrow Agent.

Escrow reduces the risk of fraud in the case involved a consumer transaction-to-consumer, business-to-consumer or business-to-business.

The escrow agent regulates the delivery of Licensee Company sources as a function of the conditions agreed in the contract to be established.

Escrow Software service Comapny, in its role as escrow agent, provides legal advice to draw up these contracts, keeping the computer support and documentation of sources and also to make the necessary technical checks to ensure the validity and availability of those sources.

According to the requirements of each case and the level of investment desired, provides for the following arrangements for recruitment of Service: Bilateral Simplified Escrow, Escrow Custom Bilateral, Multilateral Escrow Escrow Negotiated and Technology Protection.
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