Frequently Asked Questions

How can poor patent translation impact the value of international patents?

Poor patent translation can significantly impact the value of international patents. The World Intellectual Property Organization (WIPO) reports that companies spend around $1 billion annually on patent translation, highlighting its importance in the global patent application process. However, if not done correctly, patent translation can lead to major errors in content, production delays, increased costs for correcting erroneous translations, and a damaged ability to enforce international patents. In fact, a survey revealed that over 80% of respondents had experienced incorrect patent translations, and in a quarter of these cases, these errors hindered the innovation from receiving patent protection. The cost of patent translation can vary greatly depending on the industry and the average income of the country in question. For instance, biotech and pharma companies typically spend more on patent translation as their applications are usually translated into twice as many languages as those in other industries. Additionally, the cost of hiring a translator can be higher in countries with a high cost of living, such as Sweden and Japan, compared to countries with a lower cost of living, like Spain and China.