An Interview with David Segre, Partner at Wilson Sonsini Goodrich & Rosati
At DocuSign, we believe in a better process than the “old fashioned way.”
We’re keeping the spirit of National eSign Day alive and vibrant with tomorrow’s webinar that showcases modern best practices to keep your legal practice fully compliant, transparent and efficient.
To complement tomorrow’s webinar (The Legality of eSignature), we’ve invited David Segre, a corporate, securities and mergers and acquisitions (M&A) partner at Wilson Sonsini, et al., to share how Digital Transaction Management (DTM) is a prime advantage to his practice.
What made you decide to use DocuSign?
As corporate counsel, I typically negotiate with multiple parties – principals, lawyers, bankers –where the final result is a signed document. As the entire practice of law involves speed of execution, I heavily stress the importance of efficiently gathering signatures on transaction documents.
I knew of DocuSign’s industry reputation, so I suggested the platform to our IT department. Now, many attorneys and paralegals use it throughout the firm. DocuSign’s solution was easy to roll out with its intuitive interface.
How do you imagine DocuSign impacting the future of the legal profession?
When I began practicing law in 1985, there was no email or Internet and so our primary client interactions were via phone and fax. Current law practices are dominated by interaction with clients and colleagues via Internet and cloud-based platforms. This adds to the current evolution around efficiency. For me, electronic signature is part and parcel of that evolution.
Typically, lawyers charge by the hour. Naturally, clients don’t want you wasting time on faxing considerable volumes of paper. With electronic signatures, the legal industry improves client satisfaction and its own overall efficiency. Through a Digital Transaction Management platform, all stakeholders know when a document is sent, when it is complete, and when it is received and signed by each party.
The interface is so intuitive that DocuSign speeds up the deal process, and never slows things down.
Can you share a story about how DocuSign made a positive impact on your clients or your business?
Generally speaking, when negotiations happen in M&A deals and financing, the attorneys negotiate terms on behalf of their clients. Naturally, all parties want decisions to be signed and put into immediate effect when the parties have reached agreement.
However, I’m normally not face-to-face with the principals who will sign the deal documents. Frequently, the clients remain focused on their business or with their Board of Directors and so are not available for in person signing.
Regardless of where the principals may be located, you need to obtain their signatures to have a legally binding agreement.
While we would historically resort to fax machines or scanned documents, we’re now able to virtually be in the same room with DTM. All parties can sign and approve documents the moment they’re uploaded.
Such simple efficiency adds tremendous value and reliability to the entire deal process.
How does DocuSign add value to your practice?
The ease of use and quickness to get documents signed adds significant value. When you have a very heavily negotiated agreement of any kind, the stakeholders just want to sign as soon as there is agreement. Keep in mind that principals and their attorneys may have offered a number of gives and takes to get to a business deal. They don’t want to subject the deal to uncertainty from adding idle time to the process – which may cause second-guessing of outcomes–waiting to gather signatures.
Furthermore, DocuSign ensures full legal authentication and compliance, along with a transparent audit-trail of all documents. While clients view their lawyers as their most reliable advocate, DocuSign helps support this reliability and so serves as a solid business practice!
Thank you very much, David, for illustrating how going digital is in the clients’ best interest!
Register now to learn how to implement David’s best practices at DocuSign’s webinar – The Legality of eSignature – on July 16th at 10:00 AM PST / 1:00 PM EST.
To learn more about digital solutions for your legal practice, click here.