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Frequently Asked Questions

Why is there an increasing need for patent translation in the global market?

The global market is witnessing an increasing need for patent translation due to the rising number of worldwide patent applications. Companies are investing heavily in patent translation, with annual spending reaching $1 billion. This surge is driven by the necessity to translate U.S. and European patents into various languages to ensure their applicability and protection in different countries. Patent translation is a complex process that requires specialized technical skills to accurately translate industry-specific jargon and legal patent language. The cost of patent translation varies by industry and country, with biotech and pharma companies spending the most due to the need for translations into multiple languages. The cost also depends on the average income of the country, with higher costs in countries with a high cost of living. Quality translation is crucial as it directly impacts the value of international patents. Poor translation can lead to major errors, resulting in production delays, increased costs for correcting mistakes, and a damaged ability to enforce international patents. In fact, incorrect patent translations have reportedly hindered the ability of innovations to receive patent protection in numerous cases. Therefore, companies aiming to build an international patent portfolio must actively manage patent translation. Centralizing translation management can enhance budget projections, increase transparency, stabilize costs, and boost buying power, thereby improving quality and reducing errors.

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