Blog by: Laura Hopkins, accountants
Software escrow, as we know, is the very source code of the software for you for a deposit account. Insurance policy, so--talk, and its primary purpose is to protect, to cover "what if?"
If you are a software developer, your goal is to protect your intellectual property. The client may request the source code, but don't want to just give it. So, you can hire an external escrow agent neutral. But what if you don't already have a client? Why should you invest in (say) in escrow anyway?
It strengthens your rank your market: suppose they close the biggest prospect ever. This is a huge deal, society as a whole income counts that could come from it. You against your biggest competitor, (as we have them, is like a thorn in your side). Want to beat them ' just because ' suppose that your competitors have already set up an account deposit but not. Who do you think the idea has chosen? (Don't raise your hand; question is such and look you funny if someone walks by your office.)
This proves ownership and places a time stamp to your intellectual property: suppose that you are already in development, a key engineer leaves. Just like going to the market, very similar product from entering the market. How can I prove that there were your ideas? What if he claims that they were his?
It helps secure funding: suppose you and looking for an Angel (Investor). Have confidence in the need to invest heavily in your business without a safety net, something to fall back on collateral for their investment?
Now let's turn the page and talk with users of the software. You may not see a specific application as mission-critical, but you must ask yourself, "If the key turns their doors tomorrow, how my business be affected?" now hopefully, you are not affected by our economy (please call me if that's you) but I put hundreds of software developers that are no longer in business. I know that call them and get the "beep beep beep; Service already has the number you dialed. "They absolutely have to close their doors. You, dear end user client, left with a product for which you have no support. You don't even have contact. If you had access to the source code by using a professional agent, was taken into deposit in spite of this source code, it manufactured elsewhere. You may even have access to the names of key people, you can hire them to work with you directly.
Now, last but not least, for you lawyers; Of course you don't need to deposit software but may your customers, depending on your practice area. To look at more reliable by recommending him? Will strengthen the relationship with your client when demystify the stereotype and act as a reliable statements. You want to protect them to secure their trust in you, they reward you by recommending your services to others their professional network.
Is a win-win for all involved!