It goes without saying that solicitors have one of the most challenging jobs out there. The legal market can be tricky. It is, of course, a highly regulated industry inherent with the fear of being prosecuted or having your license revoked.
Someone who understands this, and is trying to push things forward from a technology viewpoint, is the DocuSign EMEA General Counsel, Richard Oliphant. He recently sat down with Raconteur to feature in its Legal Innovation 2016 report with the article, “A Sign of Legal Sophistication, Security and Added Certainty.”
It discusses the role of technology in advancing the legal profession, and how electronic signatures enable companies to eliminate paper to complete transactions more quickly, efficiently and securely. This is of high importance in a world where accountability, transparency and legal certainty are key.
When assessing whether to use electronic signatures, for Mr. Oliphant, risk analysis is a critical factor, “… you can use an electronic signature to create a legally enforceable contract unless that contract is one of the very limited categories of contracts under English law that should not be signed electronically, such as transfers of land,” he says, “Customers are always surprised when I tell them that there has not been a single case in which the English courts have ruled on whether a document was validly signed via an electronic signature platform.”
Here are some of the key takeaways from the article:
- Digital leaders can improve their profitability by more than 50%
- Return on investment increased by 300% with eSignatures
- 62% of documents administered through DocuSign were completed in under an hour
Consigning Pen and Paper to the Past Be Boundless: Drive Global Business with eSignatures
Linklaters is one such company offering clients the opportunity to sign documents directly from their smartphone, tablet or desktop. The magic circle firm has endeavored to put an end to the time-consuming practice of printing, signing, and scanning multiple documents, significantly reducing client time and meaning that clients no longer need to stay in the office while their solicitors finalise agreements.
Mark Nuttall, a London finance partner at Linklaters, was quoted saying, “Completing a signing in the traditional way can be a lengthy process, whereas through this mobile technology, with the click of a mouse or the tap of a tablet or smart phone, it can be reduced to minutes, whilst maintaining the formality and security of a signing… We hit upon the idea by observing how digital signatures (E-signing) are commonly used for thousands of transactions in the rental market. It was clearly applicable to our work and our business services team quickly turned the idea into reality.”
Be Boundless: Drive Global Business with eSignatures
To learn more, register for the upcoming webinar,“Be Boundless: Drive Global Business with eSignatures”, as Richard Oliphant, EMEA General Counsel, explains how you can best capitalise on this new opportunity and what the new regulation means for your business, whether in the UK, or the EU.