Risk in Any Language: Reducing the Often-Overlooked IP Risks Associated with Translating Patents – Risk Management Magazine

October 1, 2013

Risk in Any Language: Reducing the Often-Overlooked IP Risks Associated with Translating Patents

If your company is global—or wants to be—translating patent applications into different languages is going to be a necessary step. One mistranslated word, as simple as the difference between “slug” and “snail,” can result in millions of dollars in lost revenue. For most global enterprises, protecting intellectual property is big business and part of that protection is making sure every document is accurately translated and localized. In fact, some multinational enterprises have annual translation budgets exceeding $10 million. Translation is also a major expense of the international patent filing process, accounting for nearly 40% of international prosecution costs (view complete article here).