Amen! The only thing I might quibble with in Tony's reply:
> Escrow agreements are generally part of the contract between vendor and > customer, and require > in turn that the vendor maintain an agreement with an acceptable escrow > company. (In passing, > there are fewer escrow companies now than there were say ten years ago.) > Usually the customer > has no direct relationship with the escrow company, and so -- as Charles > Mills points out -- > will end up arguing with other creditors in bankruptcy court over the assets. Mostly, I have seen three-party agreements, with the vendor, the agent and the customer all as signatories. But even if the customer is a signatory, I believe that a court would question whether the agreement was "executory" -- subject to being torn up by bankruptcy. Yes, there are fewer escrow agents than formerly. Consolidation, like in most industries? Or have customers decided that escrow is not worth the hassle? Charles -----Original Message----- From: IBM Mainframe Discussion List [mailto:IBM-MAIN@LISTSERV.UA.EDU] On Behalf Of Tony Harminc Sent: Saturday, May 10, 2014 10:57 PM To: IBM-MAIN@LISTSERV.UA.EDU Subject: Re: Vendor Source Code On 8 May 2014 22:09, Mitch <mitc...@aol.com> wrote: > And for the likes of the larger ISVs, I would guess all of their >product source code is in escrow and kept up to date. Maybe not so >much for the "mom and pop" software companies, but the big ones, yes. I think it's exactly the "mom and pop" ISVs that are more likely to be required by buyers to have escrow arrangements in place. Few companies are in a position to require e.g. IBM to do much of anything. ... ---------------------------------------------------------------------- For IBM-MAIN subscribe / signoff / archive access instructions, send email to lists...@listserv.ua.edu with the message: INFO IBM-MAIN
