Save Source Code in a Secure Escrow
When you and your supplier setup an escrow agreement, you’re better equipped to manage unforeseen technical or operational risks—or even a business partner’s potential move. You need to save the source code with an escrow agent.
It’s the software development nightmare you prefer to avoid. You sign off on license, get the product in good working order and then just before the final delivery date. The owner decides to quit. Moves away and is not available. Anywhere.
Such nightmares are, sadly, quite possible. That’s why the old English proverb ‘Hope for the best, but prepare for the worst’ is actually an excellent strategy, especially if you’ve:
• Been through the chaos after a mission-critical application fails;
• Purchased software from a start-up that went bankrupt
• Known a vendor that lost its lead developers, and as a result its technical support abilities, during a merger or acquisition.
To be certain that your company is protected against such risks, consider creating an escrowagreement that will save the source and application of your software supplier at the same time you sign your software licensing agreement.
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