Software escrow may be defined as the process of putting a source code into the hands of a third party known as the escrow agent. A source code is the collection of written instructions that the developer writes to create a program. The main reason behind it is to retain the intellectual property. The parties involved enter an agreement. This usually consists of the conditions on which the code should be released on the bankruptcy of the developer. It also shows the roles of each of the parties in the relationships. They should therefore be understood properly. These instructions used in designing the program may be classified as either open or closed. Open sources are made accessible by anybody or any member of the public. Closed ones on the other hand have restricted access and unauthorized parties cannot see it. Closed sources are preferred to open ones as there is interference of the instructions by any unrecognized party. There is several underlying importance of this activity. For instance, it fair, confidential and the security level is unbelievable. This is particularly handy for both the license and the licensee. In addition to this, it can act as a suit in court cases i. e. Any of the parties can maintain an action of court as it is a tool recognized by law. Apart from the above benefit, this system is also handy in ensuring that the risks associated with package insecurity such as unauthorized access are identified and managed. Nevertheless, it makes the package very competitive hence can attract reasonable price. It also helps in minimizing the conflicts that may arise between the developer and the owner. In conclusion, software escrow is particularly beneficial for all the parties involved. It should therefore be done in the fast advancing package industry. Software engineering should be made and designed to incorporate this admirable aspect that has often been left out.
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