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We are using a paper form to record consent to be recorded. We want to use a digital version to make the workflow more streamlined.

When digital, does the form need to have a digital signature or asking the participants to type their full name is enough?

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The point of a signature is traditionally to demonstrate that a particular person has knowingly and deliberately agreed to a particular set of terms.

In both traditional and digital media, this doesn't have to take any specific form - a simple cross or X has been more than sufficient, even if it has no relationship to the name of the signatory - as long as there is other evidence that it was indeed the claimed party who did sign.

Thus, if you can reliably or reasonably demonstrate that a particular person has agreed to the terms, they can do something as simple as click a button or check a box; typing their own name may be additional security against an accidental click, and a digital signature is that much stronger still.

See this related question on what is needed for proving that the "signer" did indeed "sign".

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