Companies looking to expand internationally can invest in quality translations that will increase their IP protection and revenue. This will also reduce the cost of patent ownership.
Translation errors in patent applications are becoming more frequent due to the substantial increase in global patent activity.
Companies of all sizes value the ability to file patents in multiple countries to protect their IP. This is in view of the global revenue that these patents can generate. Many filers are shocked by the high costs involved in translating the necessary documentation for filing a patent in multiple foreign countries. They fear this will limit their ability to file effectively.
According to the World Intellectual Property Organization (WIPO), more patent applications are being filed globally by companies. The most popular patent applications for China, Japan, and the United States are all received. These three languages are also the ones that have the highest number of patent errors in translation.
What does it mean for patent costs? Translation errors cost companies:
* Due to office actions, it can take a long time for a patent application to be granted
* Hidden risk from an inapplicable patent
* Unexpected external and internal costs
* Reducing the number of patents filed because of unexpected costs, both internal and external.
This is a problem that all businesses face. To reduce the cost of translations, it is essential to have accurate translations.
Transition to a Streamlined Translation Method
This is why we have developed a new model to define and produce high-quality IP translations. This model allows patent filers to manage their patent portfolio more effectively and reduce its overall cost while also improving legal and scientific accuracy.
Both legal teams, as well as patent translation service providers, can adopt a streamlined and centralized process for patent translation to ensure quality and efficiency. This approach involves patent translation being managed by a translation agency, which uses technology solutions to centralize global operations. This is done at the start of the application process. This has many benefits:
* This allows foreign agents and law firms to concentrate on their legal work.
* Quality translations are provided by highly qualified and certified translators, who not only have a high level of language proficiency but also have expertise in the field of business.
* Technology solutions are beneficial to clients that improve the quality, security, and translation process of their documents and increase efficiency over time through terminology management and translation memory.
Document Translation Services
Quality and accurate IP translations are part of document translation services. The best model for IP translations will ensure that the translation process is efficient and of high quality.
* Eliminating translation-related office actions and more transparent communication for clients
Double your goal in time.
* A reduction of almost 30% in the total cost of patent ownership for the company
If you can genuinely categorize and account for the actual benefits of IP translations, you will find that a simplified model for translation is most beneficial for your company, regardless of its size.