Imagine you wanted to conduct business online in the nineties, not just buy a single item on Amazon, but to set up a brokerage account for example. You would have to sign the application and a bunch of other forms so...you couldn't finish your sign-up online.

Beginning in 1999, states started to pass the Universal Electronic Transactions Act (UETA) legally granting electronically signed records the same as hand signed ones. Then in 2000 Congress passed ESIGN, the Federal version for interstate commerce, making a national framework that removes barriers to electronic commerce. Now 46 states plus D.C., Puerto Rico, and the U.S. Virgin Islands have passed UETA. Yay!

What does UETA actually say though? Here's a short list of the most important points:

• Everyone must consent! Nobody can force you to go electronic.
• Signatures, contracts, and documents can't be denied simply because they are electronic.
• You can get an electronic notary if you want one.
• It's just like you sent the transaction from your place of business.
• Everything counts even if there is just a computer on the other side.

Ten years ago this simple law began proliferating across the country and has played a large part in helping the Internet grow into one of the pillars of our current economy.

Happy 10 Years UETA!!