Common Contracts
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The Keys to a Reliable Escrow AgreementSeptember 13th, 1996
Perhaps one of the most admired industries in the world is that of computer software. Most companies who comprise this industry are looked upon as rapidly growing, innovative enterprises. These companies are often admired as smaller operations that must fight to stay on top in a highly competitive industry. Yet these are the very characteristics that scare so many of the clients of these developers. An end-user of the software often wonders, and rightly so, that if the software developer fails to prevail in this competitive industry, if bankruptcy is only a few months away. The Economist1 has reported that as many as 60% of all newly created high-technology companies will disappear within five years. The recognition of the corporate mortality of technology developers extends beyond this industry. This concern has also alarmed business partners of technology companies who might be involved in co-development projects. Lastly, investors, such as venture capitalist, are looking for ways to
