Electronic signature is digital representations of an actual hand-written, wet-seal, virtual signature. Like the traditional wet-signed signature, eSignatures are utilized to prove that the signer agrees to the terms set out above the signature line on documents signed with a pen and fingers. For instance, you would present an online document signing to verify that the person you are presenting to is the owner of some property you want to purchase, with your signature as the key verifier. An electronic signature removes the need for a witness to authenticate a signature.
With digital signatures, there is no need for a witness because you are actually signing the document yourself. If the document that you are signing mentions anything by name other than the name of the signer (such as "Mr. Smith,"), it should be noted that such mistakes could render your digital signature Application invalid. This does not mean that every electronic document signature will result in invalidating a previous or existing signature. It is only a concern for those who sign a great deal of electronically signed documents or for those who sign with their fingers instead of their hands. Those who sign a lot of digitally signed documents should be concerned about this issue.
One of the major objections people raise to electronic signatures is that they are more prone to errors than are handwritten signatures. People are more likely to commit errors when they do not see the written words, but can see the numerical values that are part of the signature. As well, electronic signatures have been accused of being more likely to be copied and distributed than handwritten signatures. The digital signature is saved on computers rather than on paper, so someone who copies someone else's signature might get the same mistake that the original signer got. However, this is not necessarily true.
There are various laws that protect electronic signatures in various industries and jurisdictions, and some of these laws are designed to protect consumers as well as professionals. For instance, the USelectronic Payments Act applies to all electronic means of signing in the US. This Act requires that certain disclosures be made where required and also requires companies to notify customers in writing about any potential electronic signature risks. Similarly, different countries have different laws regarding the protection of electronic signatures. In Canada, there are certain laws that deal solely with electronic signatures, whereas in the UK, and several other countries, different legal bodies have addressed the issue, and there are specialized bodies dealing exclusively with electronic signature issues.
In order to get consent to act on behalf of another person, an e-signature must be legally valid. This means that the electronic signature must come from a legal way, and the signor must have given express permission to that effect in the particular transaction. Where a person doesn't have express permission or the electronic document signature is not a legal way to get consent, then it is probably not a wise move to use such a signature. However, if the electronic document signature originates from a computer system, then this may be a safe way to get consent for particular transactions.
The new world of cloud signatures has presented yet another way to get consent to transact business online. Cloud signatures allow two or more independent entities, each of which is verified and identified independently, to sign on the same signature file. The transfer of this signature from one entity to another is a safe way to transact business online, and one of the major benefits of using certificate-based digital signatures is the lack of hassle and paperwork associated with them. Also, because certificates are maintained by third-party organizations like the Electronic Signatures in the Public Interest (ESIP) or the Electronic Certification Association, no one can make a mockery of the signature, and the transaction remains protected.