Client Testimonials
"We chose ‘Waterfront' to look after us back in 2004, well before we launched mysinglefriend.com.
The team handled IP and Trademark issues for us, held our hand through Web Compliance and prepared some complex T&C's for us - making them an essential part of our team when it came to our launch."
Amanda Barnes, Managing Director, Mysinglefriend Ltd
Escrow
Escrow arrangements for software are in common usage nowadays.
Typically they provide for a neutral third party to retain up to date copies of the source code so that if the supplier of the software materially breaches their obligations under an agreement, or fails to provide support and maintenance, the customer can get their hands on the code. There are obligations on the supplier to provide updates/new versions of the software to the escrow agent in order to ensure that what is lodged with the agent is always current.
Escrow is usually governed by a three-way agreement, between the supplier, the client and the escrow agent. Release of the source code is subject to a formal process which typically involves the client proving that the supplier is in breach of its obligations.
Escrow is particularly useful in situations where the supplier may be a relatively small organisation in order to provide re-assurance to the client that even if the supplier goes out of business the client will be able to maintain the software and continue to derive business benefit from it.
Whilst some solicitors retain source code for their clients, this is not the usual practice - there are professional escrow organisations who offer a comprehensive suite of services, including a verification service - to ensure that the contents of the CD Rom etc on which source code has been supplied, does in fact match the description of what is supposed to have been lodged. Fees vary depending which escrow services are provided and it is usual, although not mandatory, for the client to pay the fees - after all it is in their interests to ensure that the escrow service is maintained.