This form is a Source Code Escrow Agreement. The form provides that as compensation for the services to be performed by the escrow agent, the licensee will pay the escrow agent a certain fee which is due at the time of execution of the agreement. The document also provides that neither the escrow agreement, nor any rights, liabilities or obligations may be assigned by the escrow agent without the prior written consent of the licensee and the licensor.
Generally, yes! As long as all parties are on the same page and agree to the changes, you can amend the terms to fit your needs.
If you find yourself in a pickle and need the source code, you can trigger the escrow and gain access based on the agreement's terms. It's a safety measure.
Yes, many businesses in Colorado Springs use Source Code Escrow to ensure their software remains operational, especially for critical applications.
The developer puts the source code in escrow. If certain events happen, like the developer not delivering updates, you can request the code. It's like having a safety net.
Typically, you’ll have the software developer, the party needing the software, and an escrow service provider involved in the process to keep everything above board.
Having a Source Code Escrow helps protect your investment in software. It ensures that if the developer goes under or stops supporting the software, you won't be left in the lurch.
A Source Code Escrow Agreement is a deal where the source code of software is kept safe in a trusted third-party's hands. If things go south with the software developer, you can access the code.