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Alternative to Escrow Agreements


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#1 rhossis

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Posted 11 April 2011 - 05:18 AM

Hi,

I work for a start up that develops software for investment banks. Our software is usually provided on license basis. It is a statutory requirement to have some provision for risk management regarding the software source code. One of the client's has proposed signing an agreement whereby they keep one copy of the source code locked up in their safe rather than go for an escrow agreement, a cost they indicate they wan't to avoid. Are we setting ourselves up for a sucker-punch? What are alternatives to this as I am not very sure about handing someone our source code?. :confused:

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Rhossis
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#2 WingedPanther73

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Posted 11 April 2011 - 04:08 PM

The general point of an Escrow is to keep the source code in the hands of a mutually trusted third party. Your customer simply cannot serve in that capacity. Now, having it encrypted with the key held in escrow might be an alternative that would be cheaper, but still involve a third party.
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#3 rhossis

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Posted 12 April 2011 - 04:26 AM

Wow, thanks, I have just talked to one of the client's managers and he likes the idea for es-crowing the key
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#4 WingedPanther73

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Posted 12 April 2011 - 03:02 PM

I hope it works out :)
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