WAYS OF PROTECT YOUR CUSTOM SOFTWARE ASSETS USING SOURCE CODE ESCROW.
Source code escrow offers a sort of assurance to organizations who buy bespoke programming arrangements from programming designers. A custom software is a critical mission to companies and if the buyer are unable to continue maintaining and supporting the software as a result of bankruptcy, it can cause a major problem to the licensee. The the source codeyou purchase should be able to access up- to -date information as well as source code. It is good to note that most of thesoftware companieswill not agree to this because the source code is their intellectual property and they will be willing to give it to the license.
At this point you can introduce the source code escrow. It is a rich answer for a central irreconcilable circumstance. A third party person is used as the escrow code agent and the code is released to the licensee when the buyer is unable to continue providing support and maintenanceas per the agreement of the contractual source escrow code agreement. It is worth noting that the software escrow agent is typically a company specializing in the source code service and it should completely independent for both the licensor and the licensee. The typical provisions of a source escrow agreement include the following.
The first thing we will look at is the provision of source code escrow is a definition of scope and the subject of the escrow, mainly this includes the source code of a specific software solution and anything that would be required to maintain the software independently such as documentation and software tools.
The second, this that should be considered are conditions that meet for the escrow agent so that they can release the source of code to the licensee, for instance, bankruptcyof the software buyer or the cancellation of the development project.
specifications of what rights the licensee has when it comes to the source code after the software is released, for instance, the right to modify the code to fix bugs.
The determination of administration of the escrow operator giving straight forward guardianship of the product, the specialist has the responsibility for the manufacture of the product and watch the the paired matches the adaptation provided to the licensee.
Any charges because of the specialist for givingescrow administrations. If a bankruptcy occurs.], on the side of the software developer, the developers creditor may be legally entitled to seize all the aspects such as source code escrow and this may prevent or may delay the release of the software to the licensee.