More and more firms are using electronic signatures. You need to familiarize yourself with the global protocols and implement firm-wide guidelines for their use. An e-signature is a legally recognized consent in a digital format.
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Did you know there is a difference between an e-signature and digital signatures?
- A digital signature is a specific type of e-signature
- The signers must authenticate their identity using a digital ID that is certificate based
- Digital signatures offer a more secure form of authenticity but add costs for your customers or clients
The International Laws differ on preference and acceptance. The EU, for example, prefer the digital format while the US is more lenient on the topic.
Electronic signatures certainly help eliminate the logistical complexity of obtaining signatures and speed up the approval process. If you are going to use electronic signatures, put an Electronic Signature Policy in place. Here are some things to consider:
- Determine which types of agreements work best for electronic signatures
- Assess your risk and start with low risk agreements first
- Determine what disclosures the State or Country require
- Modify your firm’s workflow to ensure all signers receive a fully executed copy of the agreement.
Crosspointe Consulting Group, LLC has consultants ready to help you decide if e-signatures are right for you. If you are a NetDocuments and DocuSign user, we can bridge that gap. We can also help you establish policies and workflow procedures to automate your firm’s document management.
Gerri Martin, a member of Crosspointe Consulting Group, LLC holds her undergraduate degree in Accountancy and is a CPA. This gives Gerri the business background needed to understand the financial and management implications of implementing software and business processes. She started working with Attorneys in 1986 and focuses on supporting Attorneys, Law Firms, and Law Departments. In 1990, Gerri obtained a master’s degree in Project Management while graduating with honors. In 1992, she received her PMP certification in Project Management from the Project Management Institute. She is the past Vice President of Professional Development for PMIs Chicagoland Chapter. This project management background lends itself to helping lawyers and their firms streamline their workflow and eliminate needless duplication of effort.