In order to submit patches and items to certain projects as well as qualify to run as a moderator of Ask Ubuntu, I need to sign the Code of Conduct.
How do I do this?
Launchpad offers a step by step guide to do so:
*Note that you will only see links to the codes there if you have already signed it
This will open the following page:
All you have to do is following the steps outlined.
You will be guided through all steps you may need to succeed. There are even popups for additional help in case you get stuck.
Once you have done all (should not take you more than 5 minutes) you will hopefully never have to do this again.
Of course you will also be able to withdraw your signature any time.
Although the answers given already are great in detail, I'd like to add one of my own. There is a tool that automates the process (including generating a PGP Key): The Code of Conduct Signing Assistant. There's a PPA available and also a separate .deb file.
It guides you through the whole process, so you just have to follow the steps and in the end you'll have signed the Ubuntu Code of Conduct.
Disclaimer: I'm the author of this tool.
First, make a PGP key as outlined here.
Then, Read the code of conduct. You aren't signing a document with legal standing, but you are signing something that will affect the opinion of your fellow community members, and if you don't agree with it, then don't sign it. Then, open a terminal and run the following:
gpg --clearsign UbuntuCodeofConduct-1.1.txt
That will create a file along the lines of
Open that file in a text editor and copy it.
On the Ubuntu Code of Conduct page, click "Sign it!" then paste into the textbox. Click "Continue". Congratulations, you've signed the Ubuntu Code of Conduct!
As you say, in order to have use launchpad to its fullest and have the ability to submit patches, help in certain projects that you find interesting and overall be involved in the launchpad community and other related communities in launchpad there is a "Code of Conduct" that you must first agree upon which basically says that you will behave accordantly and not go Rambo III on everyone.
To do this you must first (Assuming you already have your fingerprint. If not look below):
Go to http://launchpad.net and Register an account. After registering you should see something like this:
Click on your user account and on the bottom you should see an option that says "Signed Ubuntu Code of Conduct":
In my image it says YES but if you have not already done it, it should give you a link to the Code of Conduct page. If you click on the link it will send you to the CoC page where you can read the whole CoC and Accept and Activate it at the bottom of that page. Before accepting you need to enter your Fingerprint in the CoC page:
Now this is only in the launchpad website.
For this to work you also need your PGP Key since this is the way to "Accept" the CoC.
To do this you first:
Open the Dash and type password then look for the Password & Keys app:
Go to the Menu and Select NEW. It should open a window where you will select PGP Key:
Follow each step of the PGP Key until you have your PGP Key. This is the key you will first use in the Passwords & Keys to publish in the Ubuntu keyserver.
In the Password & Keys, select the My Personal Keys tab, and then your key. Open the Remote menu and click Sync and Publish Keys... Press the Sync button to start the sync. You might need to select the Ubuntu keyserver using the 'Key Servers' button first.
Again in Passwords & Keys, click My Personal Keys then your key and either double click it or press spacebar. Select the Details tab. Copy the code from the "Fingerprint" section.
After you have copied your fingerprint go to the CoC page I mentioned before in the beginning in launchpad and you should see an option that says Fingerprint. Just paste the fingerprint you just copied there and accept.
Done you have officially accepted the Code of Conduct in Launchpad.
There are a couple of links that are good to know why you need to sign:
Why Sign CoC: https://help.ubuntu.com/community/SigningCodeofConduct
Steps to do this (Including terminal commands): http://www.wikihow.com/Sign-the-Ubuntu-Code-of-Conduct
Another nice question link here: How do I make a PGP key?