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From standard databases to full bespoke trading solutions, functioning applications are crucial to the ongoing success of any business. Where a company licenses systems from another, it is often assured through service contracts and similar that the source code will be maintained such that it continues to work with the needs of the business. As there is always a chance, however remote, of these maintenance commitments being broken, Software Escrow is an important service. The basic premise of the service is relatively simple. A business will license an application or some other form of computer system from a supplier. This might be a pre-developed application, or it may be a bespoke system, created specifically for one company. In either case, a commercial development company will often produce "closed source" systems. This means that when an application has been developed, the supplier will provide the finished product to the purchaser, but will not want them to have a copy of the source code. The code might contain propitiatory libraries or otherwise contain sections of code that the supplier does not wish to share. Most commercial development contracts come with some form of ongoing maintenance agreement. If a purchaser buys a system for a great deal of money, it is reasonable to have the expectation that the system works as intended and continues to work; a break down in such an application might cause loss of time, revenue or even customers. In this uncertain world, the possibility that a supplier goes bankrupt or otherwise cannot fulfill their maintenance obligations is often a real possibility. This is where escrow services come in. They act as an independent intermediary, which will keep a copy of the source code. If the supplier in question fails to fulfill any of their contracted obligations (often including that of maintaining the system), the code will be released to the purchaser, who will be able to use it to maintain, or improve, their own system. Software escrow is an essential, but sometimes overlooked, part of any large-scale computing purchase process. It can help to protect a business from flaws in their systems, which might otherwise dent their profits. EscrowTech offers Software Escrow, source code escrow, and technology escrow services to match the needs of your business. EscrowTech provides a range of standard agreements that fit most company's needs. In addition, we provide assistance with customized agreements tailored to fit the needs of individual companys. (http://www.escrowtech.com)
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