08/08/2022
Why escrow is important for Software suppliers?
Software developers usually keep their “crown jewels” of the company, i.e., intellectual property, to themselves. Because of this, a customer’s main concern is when their developer may not be able to provide them support to their product, thereby severely affecting their business continuity.
An escrow agreement protects the developers and provides the adequate solution to their customers. When a source code is deposited into escrow with Escrow Global, it is secure, protected, and only released when severe conditions occur. The deposit of the intellectual property can provide a backup of materials, and evidence of authenticity of the source code in case it may appear in another company’s product.
Software developers who implement escrow agreements with their customers end up growing and expanding their company without risking their intellectual property or their client’s concerns. The deposited materials are never released unless the developer’s actions cause a release event.
