March 2009 - Global View Newsletter
INTERNATIONAL CONTRACTS: DO YOU KNOW WHAT YOU'RE GETTING INTO?
So, you’ve made the leap and decided to enter the global business scene; or maybe you’re on the fence about to make the leap. With technology allowing us to sell to the world with greater ease, it is no doubt that international business expansion is the way to go. It allows for diversification, new product expansion, and endless opportunities. But, with these endless opportunities comes the responsibility to “set up shop” correctly or risk major consequences down the road.
Global business can be achieved by establishing on-site facilities, through venture partners, with on-line portals, using distributors and so on. The key to getting set up though, is to make sure you're legally protected by the country’s governing rules on whatever you are doing, and however you do it. In most instances, that means having all binding agreements in the country’s official language – regardless of whether your partners speak English or not. We hear this all the time; YES, even if your partners speak English, you should demand that all documents be in the country’s binding language. That way, if you have to dispute, there is no question as to whether the information was understood as it is in their native language. In the translation services business, we also have clients come to us time after time saying things like: Our international partner translated our contract and now we’re having legal issues and aren’t sure whether the contract we initiated was translated accurately by them. It is much more effective to make sure these details are established BEFORE the fact, not after. In all honesty, if your partners have translated your contracts, that’s a great head start, because all you need to do is have it proofread at a fraction of the cost. Don’t sign anything in a language not your own unless you know without a doubt it meets your criteria.
Also, beware of distributors doing translation services for you. Remember, a distributor’s goal is to make money by selling whatever it is you have to offer. Their primary goal isn’t always the same as yours and product embellishments, guarantees and omissions occur in many cases. Again, if your distributors agree to do the language work, make sure you do your part to verify it is factual because you hold ultimate responsibility.
When going global, it is a good idea to establish relationships with a good international law firm and a trusted language services partner before the need turns into a litigation must.
For more information on going global, international contracting or language service needs, contact an expert at U.S. Translation Company at 800-595-4648 or by e-mail at info@ustranslation.com.
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