In the News: Save Your Money: Reduce IP Litigation Risk

acc docket_may 2014 cover
The ACC Docket
, the magazine of the Association of Corporate Counsel, published an article in its May issue with tips on reducing litigation risk, which can cost an enterprise $2.5 million on average, along with a shortened invention life and decreased overall market share.

According to authors Stuart W. Hinckley, MultiLing’s general counsel, and H. Disckson Burton, the intellectual property litigator at TraskBritt, P.C., one way to reduce this risk is to develop your own IP – and protect it globally, ensuring along the way that enterprises only allow foreign patent filings to be translated by specialized teams of in-country native linguists, scientists, engineers and legal specialists who are familiar with the applicable technology. In addition, they wrote:

“These teams should interact through centralized processes and technologies that will increase the quality, consistency, and the on-time delivery of the translated patent documents at a fair value.”

Sounds familiar, doesn’t it?

If you’re a member of the ACC, you can find out additional steps you can take to reduce your risk of litigation by logging in at the ACC Docket here or read the article in the MultiLing newsroom.