A software trust service is a service that assists all parties to a software license by providing a neutral third-party trust agent containing source code, data and documentation until an agreed event occurs. For SaaS (Software as a Service) applications that live in the cloud, you might want additional protection. Modern software management companies have a fully developed online account management application, accessible via a connection on their website. These solutions help software providers easily meet their obligations and avoid obsolete fiduciary materials. Since continued operation and maintenance of custom software is essential for many businesses, they generally want to ensure that they continue even if the licensee is unable to do so. B, for example because of a bankruptcy. The easiest way is to access a copy of the current source code. However, the licensee will often not be willing to accept, as the source code is usually one of their most confidential business secrets. [1] Let`s pretend you`ve just inherited responsibility for managing a trust agreement established years before you joined the organization. One of your tasks is to manage the relationship with a vendor that provides a critical business application.

You understand the use of the app and the development cycle for future versions/updates. You have an excellent relationship with the supplier`s management team and whenever there is a problem, the supplier is very responsive. However, one day you will receive a call from your trust provider and they will inform you that your trust account has not received a deposit for more than 12 months. What does that mean? Is there a problem? Do you need to contact the lender? If so, what should the lender do? Another obvious consideration of costs is that the costs of opening and maintaining a trust account are generally borne by the client. These fees can be in the thousands of dollars. In addition to the instalments paid to the fiduciary agent, the client often faces significant legal costs related to the drafting and negotiation of trust contracts. Software developers are resistant to providing their source code to anyone who is afraid of unintentional or unnecessary publication. As a result, fiduciary agreements are often the subject of intense negotiations. However, these legal costs are blurred compared to those that the customer must spend when the seller challenges the client`s assertion that a release event occurred. The cost of resolving such a dispute can range from thousands of dollars in alternative dispute resolution proceedings to hundreds of thousands (if not millions) of dollars in long-running litigation. One point of great frustration for customers is that these additional costs do not change the fact that the customer has no certainty, that the source code is usable and has little control over the publication period.

The licensee should be able to be suddenly without maintenance or software support if one of the following steps occurs: security is of the utmost importance when sensitive and valuable materials are involved. A software trust company should store fiduciary material in the top of the line, long-term “offline” safes or in “online” safes, which are regularly monitored by penetration tests and other best practices for the security forces.