A source code escrow agreement it’s beneficial to both the supplier and the beneficiary. But these two parties can at times appear to have opposing needs, that’s why it’s important to make sure that your licensing agreement is balanced.
Fortunately, that’s exactly what source code escrow services are for. At CodeKeeper, we have both the technical and legal expertise to ensure that your licensing agreement is secured.
We protect the interests of both the software vendor and the licensee.
Based on our experiences, here are our top tips for how to negotiate a balanced source code escrow agreement.
#1 Going into negotiations, be aware of the benefits to you
A source code escrow agreement can protect the interests of both parties, as mentioned. For the beneficiary, the reassurance that they will not experience a business interruption in case the software vendor is no longer maintaining or updating the code.
For the software vendor, utilizing a source code escrow agreement makes it easier to gain their client’s confidence. If you are a supplier that is known for being easy to negotiate with, you can develop a good reputation going forward and make future sales easier.
Additionally, as a software vendor, if you find the right third-party escrow service, you can use that same agent for all of your customers’ escrows, keeping them all in one place, easy to access and manage.
Are you aware that you need to implement software escrow in your licensing agreements, but don’t know the best way to start? Then this is exactly the article you need to read right now.
Below you will find information on what a software escrow is, why you need them in your licensing agreements, and the best way to use them.
What is a software escrow?
Software escrow is a service to help protect all of the parties involved in a software license. The service is offered by a third-party that acts as a neutral agent to hold the source code, data, and documentation. The licensing agreement typically defines a mutually-agreed-upon event that triggers the release of information from the software escrow to a legally entitled party.
You can learn more about how a software escrow works by visiting the Codekeeper website.
Are you thinking about outsourcing, but concerned about whether it will be effective or cost-efficient? That’s understandable. Many managers and business owners grapple with whether outsourcing is the right choice for their company.
Fortunately, other companies have made their decisions about whether to outsource, and they can share their experiences with you.
This article takes a look at one company that saved over $50,000 by outsourcing some of their work, as well as how you can get started on the same path to savings and efficiency.
Ovia Health saved $50,000 by outsourcing bookkeeping services
It’s no secret that in order to grow and reduce costs, companies need to be able to automate as many processes as possible. This is true of development processes as much as it is of other business processes.
For Ovia Health, their accounting department was getting stuck with manual tasks. They enlisted the help of an accounting automation solution called Bookkeeper, and the service costs them a fraction of what it would cost to employ full-time accounting personnel.
According to the company, the investment for new accounting software would have been about $50,000 for just the first year, plus the cost of hiring another bookkeeper to manage it.
You can realise the same kinds of savings by outsourcing development.