Merrill Brink News Reviews and Opinion on May 19, 2015: Doing Business in Latin America: Factors to Consider When Translating Legal Documents
London, UK (PRWEB UK) 19 May 2015 -- Latin America, with its rich cultural diversity and promise of economic growth, presents a great potential business opportunity for companies that are willing to invest in researching the region’s markets. However, those who choose to enter the Latin America market will require the expertise of professionals familiar with local legal systems, economic climates and business challenges unique to Latin American countries. These professionals can also help ensure that your business and in particular, your legal documents are accurately translated and readily understandable to your target audience.
The following sections describe factors to consider as you scope your legal translation projects for Latin America.
Latin America Is Home to Many Languages and Dialects
Some companies, in an effort to save time and cut costs, operate under the false assumption that it is sufficient to translate documents into Spanish when doing business in Latin America. However, focusing your translation efforts solely on the Spanish language will not help you communicate with business associates and legal professionals who speak other languages common in the region, including Portuguese, French, and Quechua.1 If you do decide to translate your documents into Spanish only, one translation for each document might not be sufficient. The Spanish that is spoken in Latin America differs from the Spanish used by Spaniards. Furthermore, there is no single version of Spanish that is spoken in Latin America. It varies from country to country and even within regions in a country. To ensure that your associates in Latin America have an accurate understanding of the materials you share with them, translate all pertinent documents into the languages and dialects of their respective countries.
Economies of Latin American Countries Expected to Grow in 2015
As you prepare to do business in Latin America, it’s important to ascertain which languages and dialects pertain to your target markets, as well the kinds of economic opportunities that are likely to arise in the coming year. Despite a slow-down in its economic development in 2014, financial experts still consider many Latin American countries to be emerging markets that have not reached full economic maturity, but show the potential for growth.
Forecasts project that the Peru, Dominican Republic, and Nicaragua will each expand by 5 per cent in 2015 and Panama will see a growth of 7 per cent.2 Opportunities may abound in these countries, but successfully capitalising on them requires the support of legal professionals familiar with the law-related difficulties that have delayed economic growth there, including corruption, bureaucracy, and labor regulations.3 To help your company overcome navigate these challenges, have all pertinent business documents translated by legal professionals who are native to the target country and retain the services of local counsel with “feet on the street” in that locale.
Latin American Governments Investing in Innovation
Businesses are not the only enterprises interested in capitalising on economic growth in Latin America. Presidents of countries like Argentina and Ecuador have invested in fairs and technological parks designed to encourage innovation and the monetary benefits that come with it among their constituents.4 Whilst these efforts are in early stage, cultural factors are likely to have an impact on their success, their presence indicates a possible future for technological development in Latin America.
With such innovation comes intellectual property that requires potential patent and similar legal protection. Companies planning to register intellectual property in Latin America should consider engaging a LSP with linguists with engineering or technological background, and legal counsels from the target country to work together in translating your application materials. Doing so increases the likelihood that your materials accurately convey exactly what your company is seeking to protect.
Whether the goal is to capitalise on Latin America’s efforts to innovate or to expand your company’s customer base, it is crucial that your organisation’s communications are clearly understandable by all pertinent audiences in this linguistically and culturally diverse region. The best way to achieve this is to partner with a language services provider that has translators who are native to your target countries and knowledgeable in your areas of interest in Latin America.
References
1 Beau Prichard, “What Languages Do Latin Americans Speak?” USA Today, Website.
2 Robert Kozak, “Latin America, Caribbean 2014 Growth Likely Reached Only 1.1%,” The Wall Street Journal (December 2, 2014), Website.
3 Manuela Arte, “Challenges for Negotiators in Spanish Speaking Countries,” The Epoch Times (September 11, 2014), Website.
4 Andres Oppenheimer, “Latin America’s Economic Challenge: ‘Innovate or Die’,” Miami Herald (November 15, 2014), Website.
Full Article: http://www.merrillbrink.com/translating-legal-documents-for-latin-america-05182015.htm
About Merrill Brink® International
Merrill Brink International (http://www.merrillbrink.com) is a leading provider of complete translation and language solutions for global companies and law firms, with special expertise in serving the legal, financial, life sciences, software, heavy machinery and corporate markets. A proven leader with more than 30 years of experience, Merrill Brink offers a wide range of language solutions including translation, localisation, desktop publishing and globalisation services.
Merrill Brink is recognised in the industry for its commitment to quality and its pioneering approach of leveraging technology to reduce costs, eliminate redundant processes and accelerate translation life cycles. Merrill Brink is certified to ISO 9001:2008; ISO/IEC 27001:2005 and ISO 13485:2003, and compliant to EN 15038:2006 and ISO 14971:2007.Together, these standards provide assurance that the most stringent process and quality standards for translation are followed. Merrill Brink International is a wholly owned subsidiary of Merrill Corporation.
Vanessa Lontoc, Merrill Brink, http://www.merrillbrink.com, +1 (917) 720-5598, [email protected]
Share this article