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What is Software Escrow
December 22, 2011
What is Software Escrow?
Most organisations in the world use licensed software systems they do not own or control. They use these software systems to enable them to deliver products and services to their clients. In most cases the organisation will be dependent on these software system supplier and without them would most certainly fail. To ensure that an organisation is not compromised by the failure of a software system supplier they can invest in a specialist type of legal agreement, this agreement is called a Software Escrow agreement.
For a relatively small annual fee the user of the licensed system can be confident in the knowledge that if their supplier fails they will not. The Software Escrow agreement provides many benefits;
- Secure storage of source code
- Security of Intellectual Property
- Confidence in supplier relationships
- Assurance of business continuity
- Validation of build and deployment architecture
- Strong customer relationships
Only through the use of Software Escrow agreement can the user of a software system ensure that if their supplier fails they can gain access to the source code, build instructions and most importantly the legal rights to maintain and develop the system to secure their business continuity.
All organisations should consider establishing a Software Escrow agreement for all software systems they do not own.