Legal Hold Definition and Examples

Understanding Legal Hold for e-Signing

When dealing with electronic signatures, one term that often comes up is Legal Hold. This powerful mechanism plays a pivotal role in ensuring that certain documents remain unaltered and accessible for potential legal scrutiny. Here's an in-depth look at what Legal Hold means in the context of e-signing.

What is Legal Hold?

Legal Hold, also known as a preservation order or litigation hold, is a process used to preserve all forms of relevant information when there is a reasonable anticipation of litigation. This can include emails, documents, contracts, and any other electronically stored information (ESI). In e-signing, Legal Hold ensures that electronic documents are preserved in their original state, preventing any alterations or deletions.

Why is Legal Hold Important for e-Signing?

1. Compliance: Legal Holds ensure that companies comply with legal and regulatory requirements by maintaining the integrity of potentially relevant documents.
2. Litigation Preparedness: Ensures that all necessary information is available and untouched in case of legal disputes or investigations.
3. Trust and Security: Demonstrates a commitment to legal accountability and enhances the trustworthiness of the document management process.

Real-world Examples

Example 1: Contract Disputes

A company might need to place a Legal Hold on electronic contracts if there's a dispute about the terms and conditions. By doing so, they ensure that the e-signed documents are preserved exactly as they were at the time of signing, potentially aiding in legal resolution.

Example 2: Regulatory Investigations

In industries subjected to strict regulations, such as finance or healthcare, regulatory bodies might require access to original documents. A Legal Hold would ensure that such documents are not tampered with, thus maintaining adherence to regulatory standards.

How GoodSign Supports Legal Hold

With GoodSign, applying a Legal Hold is straightforward and part of their seamless user experience. Here's how:

• No Extra Cost: Unlike other platforms that might require an expensive subscription, GoodSign offers pay-per-use pricing, ensuring Legal Hold is accessible when you need it.
• Full Feature Access: You get all necessary functionalities, including Legal Hold, without being locked behind different tiers of service. This means every user, regardless of their usage plan, can utilize this critical feature.
• Integration Capabilities: GoodSign integrates effortlessly with your existing systems, ensuring a smooth application of Legal Hold across all relevant electronically signed documents.

By ensuring that sensitive documents remain secure and untampered, GoodSign helps you meet your legal obligations without the hefty price tag. Only $1.50 per envelope sent ensures that you maintain the highest standards of compliance and preparedness.

Embrace the flexibility and security that comes with using GoodSign and make Legal Hold a seamless part of your e-signature workflow.