Rectifiable paths with polynomial log-signature are straight lines

The signature of a rectifiable path is a tensor series in the tensor algebra whose coefficients are definite iterated integrals of the path. The signature characterizes the path up to a generalized form of reparameterization. It is a classical result of Chen that the log-signature (the logarithm of the signature) is a Lie series. A Lie series is polynomial if it has finite degree. We show that the log-signature is polynomial if and only if the path is a straight line up to reparameterization. Consequently, the log-signature of a rectifiable path either has degree one or infinite support. Though our result pertains to rectifiable paths, the proof uses rough path theory, in particular that the signature characterizes a rough path up to reparameterization.