Obviously choosing software escrow services is an important step, and there are some considerations you need to be aware of before choosing a third party to help you with your software escrow needs. You can easily find established software escrow services by doing a Google search for this, but it is important to interview several to find out about pricing, how long they have been in the software source code escrow business, and to get a feel for the service they offer.
Find out about the number of escrows that are typically claimed. Check with registered agencies like the Better Business Bureau to see if there is any negative feedback on each company. Ask about the type of agreement you will need for your intellectual property and source software, for example a single user plan (SUP), a multi user plan (MUP), the investor security plan (ISP), or the multi supplier plan (MSP). It is obviously important to get the right plan for your company right at the start of the process.
The single user plan is used for source software that is highly customized for one company, and the escrow agency will hold the source code for that particular company. There are three signatures required for this, the supplier must sign, along with the licensed user, and the software escrow agent.
The multi user plan has only two signatures, that of the escrow agent, and the software supplier. This plan is best suited to packaged software, and once the software has been developed, the supplier then designates in writing those people or companies that are entitled to benefit from this particular escrow agreement.
The investor security plan is used for investors when they are funding the development of new software, so that there investment has some collateral security in the form of the source code which is held by the escrow agent. In this case the investors, developers, and the escrow agent all need to sign the appropriate agreement.
There is no doubt that an escrow agreement can protect the business for the user of any particular software. Just imagine what could happen if the software that runs your business is no longer supported by the developers. This event could trigger the release of the source code by the escrow agent, and enable you to use another software company to help you out with any issues that arise with the source code.
So, to conclude, choose your software escrow services provider carefully, do your due diligence before you use them, and then you will be able to relax and get on with your more normal business activities, knowing that the source code is safe with your escrow agent.
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