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What is Escrowtech ? How they are working - Chennai
Thursday, 21 July, 2022
Item details
City:
Chennai, Tamil Nadu
Offer type:
Offer
Item description
When making a major software purchase, the licensee would want to access the source code, and all the necessary documentation used to maintain and operate the software in case if the software provider goes out of business. It is the responsibility of the software to make sure that their licensees do not suffer in any case. Now, when the vendor is still active and doing business, they cannot just provide the source code and other confidential materials to the licensee. It is a big business risk because there is no assurity that the licensee will keep the source code safe and confidential or make use for personal gain. This is why a software escrow and source code escrow is needed for a software provider. From the perspective of a licensee, they will face challenges if they don’t have access to the source code and the required documentation to keep the software updated and well-functioning. There is no way a licensee can continue to use the software without the source code if the software provider goes out of business. So, a software escrow tech service is created to safeguard the relation between the vendor and the licensee.
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