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Established limited company - no paper

13 February 2013 1 comment

Bo Harald

Chairman/Founding member, board member

Trust Infra for Real Time Economy Prgrm & MyData,

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. Pure intertia..

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Comments: (2)

Ketharaman Swaminathan Founder and CEO at GTM360 Marketing Solutions

15 February 2013

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!

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Bo Harald Chairman/Founding member, board member at Trust Infra for Real Time Economy Prgrm & MyData,

Author 16 February 2013

By using bank sign on codes this is not a problem. Signing transaction in the log as all other actions have to be. Just reuse e-banking and relax.

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Bo Harald

Chairman/Founding member, board member

Trust Infra for Real Time Economy Prgrm & MyData,

Member since

04 Nov 2008

Location

Helsinki Region

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