Top 5 challenges facing corporate legal counsels: part 4—intellectual property

So far in the series we've looked at Machine Translation systems, how they can impact data protection – including GDPR – and why regulatory uncertainty makes it incredibly difficult to enforce. We also explored how a lack of secure processes could impact a company’s reputation, and why litigation provides a real threat to business stability. Now we look at intellectual property, and the risks facing legal counsels when it comes to securing their - and their clients - knowledge. 

#4: Intellectual Property

In a knowledge and information economy where intellectual property (IP) is emerging as the most valuable asset for many companies, the fact that businesses are finding it difficult to enforce their ownership rights is significant. Learning how to effectively manage IP has become commercially critical and fundamental to evolving global business strategy. The ability to protect IP is increasingly challenged as companies reap the many benefits of globalization. Countries are competing for top positions in IP filings, deeming this an alternative for being the most innovative. Similarly, countries are competing to be most favorable IP litigation jurisdictions to foster and attract innovation.

Accurate and rapid translation of foreign patents and intellectual property documents ensures compliance with local jurisdictions, to help create an airtight patent strategy. Understanding local requirements while aligning to the type of patent that is being filed, whether PCT, EP, or Paris convention. 

Understanding deadline complexities and local regulations to meet requirements for certifications and formatting to ensure our clients retain their intellectual property across all jurisdictions. Ensure on-time filing is crucial. SDL translation management technologies reduce the overall translation costs by leveraging translation memories and aligning with end clients approved terminologies. Additionally, translating ahead of deadlines can reduce filing extensions. SDL experts align with all your IP stakeholders – R&D teams, patent teams, and marketing teams – to create one consistent message and terminology.

Keep an eye out for the final post in this series on how to address concerns mergers and acquisitions. And if you're attending Legal Tech in New York, why not stop by and find out more about SDL?