Monday
Dec012014

- case in point: accelerating 75 signatures

Recently GRH Law helped form four new companies through the coordination and completion of a series of transactions that required a total of 75 signatures.  The challenge here was to have documents and contracts signed within a one-month time frame, by different groups of people (four business owners and others) – all working from different locations.

Utilizing a secure online document management system, GRH set-up an automated system that sent each contract from one signer to the next, requesting electronic signatures. Updates and tracking reminders were automatically issued to keep signers aware of progress and status to date. Each signer received a record and copy of the contracts with final signed documents stored in the centralized document management system.

A signature event of this size and complexity could take over a year to complete with the paper based system that many large law firms utilize today.  The process would require a number of time consuming activities including, handling of pdf files, faxes or overnight packages with papers that need to be signed and returned.

By centralizing and automating this 75 signature event with a secure and highly efficient technology infrastructure, GRH Law helped these business owners accelerate the entity formation process while saving time and costs.

>> Link to other tasks related to phases of the Entity Life Cycle

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