Between 1999 and 2000, the two main eSignature laws were signed into effect: the Electronic Signature in Global and National Commerce Act (ESIGN) and the Uniform Electronic Transactions Act (UETA). These two laws, among others, ensure that digital signatures have the same legal status as contracts signed via pen and paper.
Technology has come a long way since dial-up modems and bag phones. Have you seen the iPhone X?! While many are excited for innovations like smart devices and self-driving cars, they still seem tied to virtual ink and paper. Why is that?
Companies in today’s “get it done yesterday” world need a workflow that allows them to do high volumes of business without increasing risk or spoiling user experience. A clickthrough agreement—a box or button that a user checks or clicks to manifest their acceptance of a website legal agreement—is perfect for this. A clickthrough is the preferred, enforceable way to present clear and concise reasons for why you want to collect your users’ data.
Slow, faulty, or an entire lack thereof—a Contract Management process can be a huge road block within numerous company sales cycles. Traditional contract management processes like manual paper pushing, review, approvals, and more can really slow down your business. An online process can cut out a lot of unnecessary steps within your contract lifecycle. By going digital, you can transform how your organization manages risk, and ultimately shorten your sales cycle and reduce spending. We're not just talking about putting files in Dropbox, or moving things from desks to email...
You may have questions about the legitimacy of the click-to-sign eSignature, and rightfully so. How can clicking a button be as legally enforceable as signing your name? Doesn’t an electronic signature need to look like an ink signature?
Basically every commercial website you stumble upon these days will present you with some form of click-through agreement upon registration. Whether this be creating a new social media account or signing up for a daily newsletter from your favorite website, chances are you will probably have to click some sort of “I Accept” button before continuing on. Clicking that button is just as legally enforceable as putting pen to paper, but it’s a LOT more efficient. Here’s how:
Think about the last time you were presented with a terms of service form, or any other type of online legal agreement. Now answer this question: did you actually read through the whole thing? We're guessing you didn't, and you're not alone. NPR recently conducted a study to look more in depth at typical human behavior when it comes to lengthy legal documents, and found that those who don't read through the full policies aren't the exception, they are the rule.
Gone are the days of mailing and remailing contracts, and we could not be more thrilled. Written contracts can often be time-consuming and complex, and honestly just a big pain. Luckily, eSignatures have come to save the day! Contracts don’t necessarily need the typical ink-to-paper form of signing anymore, yet some companies have not taken advantage of all that eSignatures and clickwraps have to offer. In this blog we will outline some contract-signing practices that have yet to completely fall to the wayside (but hopefully will soon).
Yesterday our Co-Founder & COO Eric Prugh hosted a webinar breaking down three ways PactSafe is reimagining contracts in the "right-now" economy. During the webinar, he shared three examples of how current PactSafe customers use the contract execution platform. (Spoiler alert: it's revolutionary)