Increased FCPA Enforcement May Lead to More Foreign Language Document Reviews for Attorneys

Increased FCPA Enforcement May Lead to More Foreign Language Document Reviews for AttorneysThe Foreign Corrupt Practices Act (FCPA) is likely to provide more foreign language document reviews for attorneys and translators during the new presidential administration because U.S. Attorney General Jeff Sessions said during a speech this month that the Justice Department would continue to prosecute corporate fraud. He added that “one area where this is critical is enforcement of the Foreign Corrupt Practices Act.”  Read more

4 mistakes to avoid when dealing with foreign language lease agreements in the context of FASB’s ASC 842

4 mistakes to avoid when dealing with foreign language lease agreements in the context of FASB’s ASC 842With FASB’s new lease accounting update, ASC 842, companies may be struggling to establish procedures that make the transition easier. But with any new process, companies will make iterative improvements. Here are four mistake to avoid when dealing with foreign language lease agreements. Read more

Why it’s important to streamline your lease agreement translation process

Because businesses are now required to disclose lease commitments on the balance sheet with FASB’s ASC 842 standards update, there is going to be significantly more work for corporate accountants and lawyers, especially if foreign leases are involved. Developing a streamlined lease agreement translation process with the right technology and lease translation partner can mitigate time, cost, human error and cut down on the stress that this new requirement can bring.

There are many reasons for taking the time to create a workflow that is as automated and effective as possible.  Read more

5 significant issues to consider regarding the FASB’s lease accounting standard ASC 842

5 Significant Issues to Consider Regarding the FASB’s Lease Accounting Standard ASU 842The Financial Accounting Standards Board (FASB) functions as an independent and not-for-profit organization that establishes financial accounting and reporting standards for all organizations that follow Generally Accepted Accounting Principles (GAAP). After nearly 10 years in the making, FASB announced its most recent standards update in February 2016:

ASU 2016-02, Leases (Topic 842)

Intended to address some of the most common criticisms of the current accounting and reporting rules, the most recent amendments focus on transparency. In the aftermath of the SEC’s 2005 report on off-balance-sheet activities, which recommended changes be made to lease agreement regulations, the FASB and the International Accounting Standards Board (IASB) developed and published a joint guidance that, in the words of FASB Chair Russell G. Golden, “responds to requests from investors and other financial statement users for a more faithful representation of an organization’s leasing activities.” Read more

5 medical device industry trends that affect translation

5 medical device industry trends that affect translationAs the science and technology industry continues to update and evolve at a rapid clip, so does your translation needs. Industry trends directly affect the way you present your medical device translations. Without keeping your product labels, marketing materials, and usage guides up-to-date in all languages, you could put your company at risk of losing sales – or worse.

Here are five medical device industry trends that will require you to take a second look at your translations.

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Notarized Translations: What is a notarized translation and do you need it?

Notarized Translations: What is a notarized translation and do you need it?Translations extend beyond product labels, booklets, and printed materials. There are some documents that need to get sent to the authorities and officials to aid in a case or a decision. If that’s the case with your text, you might require a notarized translation.

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6 things to know about marriage certificate translation

6 things to know about marriage certificate translationCongratulations! You’re married and now it’s time to start your life with the person you love. As a blissful newlywed, you want that life to begin right away. However, if your marriage happened overseas and you want to move to the United States, you might need to have your marriage certificate translated.

Marriage certificate translation is more complex than it might seem on the surface. Because it’s a legal document, it requires a knowledgeable translator to complete the work required by United States Citizenship and Immigration Services (USCIS.)

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Why single-source certified translation providers beat multi-vendors

Why single-source certified translation providers beat multi-vendorsFor companies operating in a high-compliancy industry, such as the legal or medical field, accuracy is paramount. Because there is no room for error in these translation projects, many businesses turn to a certified translation provider instead of multiple vendors.

What is certified translation?

A certified translation is a project that has a signed testament to the document’s completion and accuracy to the best of the translator’s ability.

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Spain and Italy continue to lose in patent translation service fight

Spain and Italy continue to lose in patent translation service fightAs a business, you know how expensive it is to file a patent. From the cost of filing to the expense of having the necessary patent translation service, patent filings are costly to companies.

With that in mind, it’s easy to understand why businesses continue their frustration over Spain and Italy’s non-stop battle against the European Patent Office (EPO).

For almost a half-century, Spain and Italy have fought the EPO to require that patents be filed in Spanish or Italian. Right now, the claims for a patent section must be filed in the EU in the top three dominant languages: English, German, and French. Spain and Italy want to add Spanish and Italian to that list of languages. Read more

Setting up your IP or legal translation for success

Setting up your IP or legal translation for successThe world is smaller than ever. If your company operates abroad, there is a high likelihood that you will eventually need your patent, intellectual property, or legal documents translated.

According to the World Intellectual Property Organization (WIPO), patents filed internationally are expected to increase in the near future. More specifically, China is expected to see the greatest influx in international patent filings.

Translations of IP and legal documents are unique. The way you manage the translations of these documents is vital to your company’s overall success. To help you start your translation project in the right way, here are a few tips on how to make your legal or IP translation a success.

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