As I plan to step down from full time employment at Tieto, but will continue as advisor in various projects I needed to establish a company of my own. Yesterday I thus logged in
with my e-bank credentials to the Finnish Trade Registry and completed the needed handily presented information, signed it with my e-bank credentials and sent a signing request to the other shareholders.
They signed with their own e-banking credentials (also unbanked persons can have them) and I had our company registered and corporate register number issued by return. Easy as that – no paper – no delays!
So my next thought was: Why on earth is not all contract signing etc done in the same way? Much is – but not all.
As you rightly point out, many contracts are signed digitally. However, there's more than just inertia to explain why adoption for e-signed contracts is not anywhere close to 100%. In the case of paper-based contracts, both parties to the contract can easily
verify authenticity of a contract by spotting or not spotting wet-ink signature. With e-contracts, due to expired SSL keys or other technical reasons, I've received many of them with the marking "signature invalid". I'm never sure how many of them will survive
a dispute, if and when one arises!
© Finextra Research 2014