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

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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

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The 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

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As 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?

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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

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Congratulations! 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

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For 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. Read more

Spain and Italy continue to lose in patent translation service fight

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As 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

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The 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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Why you should go with a legal translation specialization company

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Your law firm is now international. You’re dealing with clients and contacts all around the world. Congratulations. Now, to be successful, you need your case materials, website, contracts, agreements, and more translated.

As you look at your scope of work, you wonder about the fastest and cheapest way to accurately and effectively translate your materials. It’s not as simple as plugging your document into a machine translator, or handing it over to a newbie translator. Legal translation projects require a solid understanding of legalese in multiple languages, and the ability to effectively communicate that same terminology into another language, as well as the ability to do so quickly and error-free. Failure at this can be costly for your law firm.

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6 industries that benefit from legal translations

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When it comes to doing business globally, the way you communicate can make or break your business. While you may already be leveraging translation services to help you reach new markets in other countries, you may not have given much thought to also getting legal documents translated.

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