What's the purpose of signatures?
Your signature is your signature. It shows your name and confirms your intent. A signature is a unique way to identify a person and ensures they have seen the document.
A signature serves two purposes: it indicates that the person has read a copy and that they have acknowledged and agreed to its contents.
Different types of signatures
Wet Sign
Wet signatures are signatures written with a pen on white paper. There are no digital tools involved. This signature is most widely recognized in all jurisdictions.
It is often the initials or name of a person. It can include seals or symbols.
Electronic Signature
Electronic signatures can be associated with electronic data, such as electronic documents. Electronic signatures are used to verify the authenticity of document workflows.
Although electronic signatures are prevalent, they are not legal in all jurisdictions. It is essential to be familiar with the laws that govern their use.
Digital Signature
A digital signature is a way to verify a document's authenticity. These digital signatures confirm that the person who signed the paper is the person who also signed it electronically.
They use Public Key Infrastructure to encrypt data. A certified digital certificate authority maintains the PKI. Signers require a digital certificate that has limited validity.
To encrypt your signature, public and private keys can be used together. The signature will be invalidated if the keys do not match.
Clickwrap Signature
Clickwrap signatures can only be used for online commerce. They are legally binding for any intent or practices.
To confirm that they have read and accepted a site's terms or sales, they must tick a box.
How do electronic signatures work?
An electronic signature solution refers to data that a signatory of a document enters electronically to verify someone's identity and acceptance of the document's contents.
Signers are required to use electronic seal authentication methods to prove their identity. This includes email, face scan, fingerprint biometrics, and email.
Multifactor authentication may be used to enhance security.
How to get an electronic signature?
Although the electronic signature process can be quick and straightforward, the process may vary depending on which software or app you use.
You can generally create an electronic workflow using the relevant software or app downloaded to a smartphone, computer, tablet, or another electronic device.
Enter your name in the box. The software will convert the text into a signature that can be approved. Additionally, a picture of the signature can be uploaded.
Some programs allow you to "draw your signature" on the screen with your finger. Innovative writing technology converts hand movements into digital signals.
The next step is to confirm your identity. This can be done by either logging in with their email address or using their social media credentials.
You must then agree to the terms and conditions regarding how you plan to use your electronic signature.
The pros and cons of electronic signatures
- Reduces the need to print and scan documents.
Electronic signatures allow you to send copies and have them signed within minutes.
This saves you time and will enable you to do more valuable work.
You can also avoid printing and mailing expenses.
- Time-stamped: The most reliable way to prove that a document has been signed as it should. Electronic signatures record the precise time and date of signatures.
- Searchable - Unlike physical signature document integrity, you can search for and track all of your documents from one location.
Cons of Electronic Signatures
- Electronic signatures have lower security than the digital signing process. If the platforms don't offer encryption, signed documents can be compromised more easily.
- You will need to have some knowledge of technology. Wet signatures are the most common way to sign documents, so those who don't have the digital expertise necessary to use electronic gadgets will need to learn it from scratch.
How do Digital Signatures Work?
A digital signature technology is a unique signature that each person has, much like a wet signature. A digital signature is simply a combination of the document and the signer's private key.
This involves creating two sets of numbers, the public, and private keys, using a PKI protocol. The signer must have private and public keys to digitally sign the document.
The hash algorithm will scan the document contents and create a unique set number of letters, known as the digest.
This will encrypt the signer's private key, which will produce the digital signature.
How is a digital signature obtained?
A valid digital certificate must be current to sign documents digitally. A licensed certificate authority (CA) must authorize these certificates.
You can obtain a digital certificate in many ways. The government doesn't regulate certificate authorities but licensed third-party private companies to do.
The pros and cons of digital signatures
- Efficiency in Workflow; Document management and tracking are more accessible with less effort.
- Provides convenience. You can save time and energy by using face access technology to sign documents or websites.
- Security enhanced digital Signatures lower the possibility of duplicates or document alteration.
- Legal validity Ensure authenticity and verify signatures.
Cons of digital signatures
- The technology for creating digital signature solutions is a significant determinant of their use.
- Vendors do not have a standardized security policy. Some offer lower levels of security than others.
Conclusion
While it is possible to classify all digital signatures as electronic, not all of them are. They are often mistaken for one another.
You probably already know that digital and electronic signatures may serve the same purpose but offer different levels of security. They are not synonymous. Once you have the right software, both are easy to use. We hope you found this article helpful in helping you choose the right type of signature for your needs.
