First American Title Insurance Company
Health Care Stakeholder Discussion: Small Businesses
You need more business. However, at least from the point of view of legal protections, one can't help but be reminded of the old adage that "you get what you pay for. Only large companies will likely have the leverage to negotiate material changes to those terms.Internal (“soft”) costs – More escrow agreements mean more legal, engineering, contracts and purchasing time is required.Top questions to think about?Do you have access to your data? If you didn’t have access to your data, what business implications would there be in the time that would be lost retrieving the most up to date data? If you had it securely stored and knew exactly where to go to retrieve it, wouldn’t that be a great plan B for your business continuity? Is your data stored with the SaaS provider? We have heard and seen horror stories of the time it took to get data back from your provider to the data being returned in a format that is so difficult to port over to another provider. What is the purpose of escrow, really? For developers it protects their intellectual property and establishes/confirms their reputation. Companies should be especially wary if they will be storing personal or individually-identifiable information (such as customer's names, addresses, credit card numbers, etc. Would that time be lost revenue to your business?Is your data co-located on servers with many other clients? If you are a health care provider and your data is co-mingled with other’s data, does this breech every HIPPA law
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