A Company’s licensed customized software may become redundant in the event of …
...The software product company going out of business or filing for bankruptcy….., as a result of which it will not be able to maintain, develop or enhance the software licensed to you.
This will result in another substantial investment of capital to develop the same software.
Technology Company ….. does it need an escrow?
Believe me it does ……the hard fact is that Technology is as vulnerable or risk exposed as software ……………….
For example - Consider this Scenario:
Your company is in the process of developing a technology or software which could in future bring in huge revenue …….. but the development gestation period spans over a considerable length of time ……..in the future how do you protect your company intrests or products from rouge employees?
We at EscrowTech India call this The Insider Scenario:
In short an employee of your company steals the idea of the product, later resigns and stakes claim as the inventor of the Technology, Software. How can you submit proof or evidence that the product was actually your company’s idea which was stolen from you when the person was the employee of your firm…It’s a lose all situation…….The irony is that the ‘Insider’ may sue your company for infringement of what he claims to be his product.
Prevention is better than cure:
We at EscrowTech India provide an IP Audit Trail …in this your company can create a chronological and detailed trail of product development at every stage in the course protecting itself from such violations.
The company can also archive the product development after its completion ….the purpose…..as evidence of development and as a safe data or Technology back – up facility.
This is just one of those situations where a company can lose a great deal because of its negligence.
EscrowTech India will be glad to advise you on any future contingency plan to protect your business interests.
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