E-Signature Tech Is Having a Moment. Can It Last?
Earlier this month DocuSign pushed United Airlines off of the Nasdaq 100 while competitor SimplyAgree saw a huge surge in customers across March and April. Some believe that even a fragmented regulatory landscape won't slow down e-signature companies.
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Like other remote-friendly businesses, e-signature companies have seen a rise in client interest over the last few months as attorneys and other professionals look for ways to keep deals moving absent the opportunity for face-to-face interactions. Still, whether that newfound enthusiasm can withstand continuing regulatory obstacles remains to be seen.
One thing is for sure: E-signature technology is having a moment. Last week, for example, CNBC reported that DocuSign’s stock had reached an all-time high, replacing United Airlines on the Nasdaq 100 index. On the other end, SimplyAgree CEO Will Norton said as many law firms approached his startup company in the months of March and April as did in the entirety of last year.
But despite the growing popularity of e-signature tech, a patchwork of state laws still put some restrictions on the use of such tools. Laws governing the use of electronic notary signatures, for instance, still vary from jurisdiction to jurisdiction, with some requiring that notaries and clients be physically present in the same room.
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