Click to Sign: The Changing Ecosystem of Document Execution
Legal Data Security & Avoiding Data Breaches
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Read. Confirm. Approve. Click to sign.

The ordeal of execution of legal documents has changed, perhaps permanently, with the eSignature platforms coming into play. We give a rundown on how electronic signatures can be a part of the change management offering to businesses.

One of the many building blocks to unlocking the full potential of the internet economy is using those tools with legal bearing. While most developed economies have been using electronic signatures for executing contracts, it is the Covid-19 situation that has led to the widespread use of these tools to a greater degree. The focus of this article is the use and application of the eSignature tools for businesses, individuals, legal departments across the globe to manage change and to execute documents swiftly and smoothly.

As it turns out, eSignatures are a default application today that allows end-users to authenticate agreements and contracts with a click seamlessly. We aim to address some of the important aspects that are central to the subject matter of eSignatures.

The Threshold Question- Governing Laws of the Contracts:

It is pivotal to know the governing laws of contracts and whether the laws support the electronic signature and

  • whether eSignatures have the same effect as the physical or wet ink
  • that the contract will not be rendered invalid solely because it is in the electronic form
  • whether the parties have agreed to eSignatures, its delivery, and retention.

The Means and Methods:

After the initial communication indicating the parties' intention to be bound by electronic contract comes to the stage of consensus ad idem, where the character will require the parties of the instrument to sign the same order to give it a binding effect under the law.

The stage follows-a seamless, streamlined workflow process that works on a sign and scan mode.

What an eSignature Platform Aims to Create?

  • Secure mode of execution of documents.
  • Safe repository for storage, retrieval, and access to signatures.
  • Legal relationship between the parties executing the document.
  • Change Management and Remote Operations

Like every other commercial third-party application, an eSignature requires consensus ad idem- the meeting of minds and confirmation with processes while ensuring the legalities of executing eSignatures. Globally, 75 countries have legal mandates to adopt technology for digital signing. With the global eSignature platforms expected to grow 24.6% annually, the trend clearly suggests a rise in customer base for the eSignature platform

The reverberating effects of the Covid19 pandemic have necessitated companies to adopt efficient mechanisms for change management. The digital mode of execution of documents eliminates the requirements for on-premise hardware or a physical presence to witness the same.