International mergers and acquisitions can be the perfect solution for any company looking to expand their brand overseas. Acquiring or merging with a company abroad can mean an instant presence in foreign territories and gives companies the best possible platform for success.
The merger of any two companies can present numerous challenges, though. The data collection and due diligence alone can seem a mammoth task. The purchasing company will need to consider the financial situation of the company they’re buying; employee and management materials such as contracts, handbooks and policies; tax and governmental paperwork that will need to be in place for the country in which the purchasing company will be operating; etc. The list can be exhaustive, and that is before we consider the native languages of the companies in the proposed agreement.
While many international businesses operate in English, it’s recommended to search the support and advice of a professional legal translator as many international mergers and acquisitions involve multiple languages. Chinese (Mandarin), German and Arabic being among the most popular languages for business. This can be worrisome for businesses as the risk of losing or misunderstanding vital information during the translation process is quite high. It is therefore imperative that when choosing a language service provider that you find a translation partner you can trust.
The following tips are tailored for those businesses whose business plan involve international mergers and acquisitions, but can be also a useful checklist for anybody requiring legal translation.
Legal text is known for its complexities, and it wouldn’t be uncommon for native speakers to have difficulty understanding what is being communicated. Legal texts frequently contain terminology and phrasing that wouldn’t be found in everyday speech, and some legal terms and phrases used may be specific to the laws of a particular country. This means that a direct translation may not be possible, and a translator would have to paraphrase. Therefore, the accuracy of legal translations isn’t always guaranteed as texts can be left to professional interpretation.
When it comes to document translation for international mergers and acquisitions, though, accuracy is king. As with other legal and technical translations, an accurate and precise translation is vital to assisting a smooth and successful international takeover or merger. A vague or ambiguous translation can have severe implications on the legal process. Not only could it disrupt proceedings, costing thousands in legal fees, but it has the potential to damage an existing agreement between the companies involved.
To ensure the highest quality legal translation of your international mergers and acquisitions material, a talented, knowledgeable and experienced translator is an absolute must-have. Your translator must only ever translate into their native language, and they must have a strong knowledge of the language and culture of the source text also. The best translators will have extensive knowledge and experience of working within the legal sector, and will ideally have experience of business takeovers and mergers.
A second important factor when translating legal text for international mergers and acquisitions is consistency. As with technical translation, key terms and phrases are often repeated across many documents. It is therefore useful to create and continue to build a glossary to ensure that your translation stays consistent.
Translation for international mergers and acquisitions are typically large projects with the need for a quick turnaround. Building a glossary will not only ensure that you have a high-quality, consistent translation, but it could also aid with your turnaround times and can stretch your budget. By using an extensive glossary, translators can save on time that would normally be spent translating the same material repeatedly. By cutting this time out, turnaround times are sped up and the cost of projects can be reduced dramatically.
The final and arguably most critical factor to consider when getting your international mergers and acquisitions material translated is security. Entrusting the private information of your business with a language provider is an enormous commitment and requires a lot of trust. When choosing the language provider that’s right for you, you need to think about what systems they have in place to ensure the information about your takeover or merger remains confidential.
The best translation companies will store your documents on secure, on-site servers, protected from threats by the latest anti-virus software. Also, your documents shouldn’t have to leave that provider’s system. Many companies have software systems in place that allow translators to access and translate your documents directly from the language provider’s server.
It’s also highly advised that you request a company to sign a Non-Disclosure Agreement (NDA), if they haven’t offered to do so already. This will add that extra layer of protection for your information, and will ensure that your work is only seen by the people who need to.
There are many factors, then, to consider when choosing the right language service provider for your international mergers and acquisitions translations. It’s a relationship built upon trust and professionalism. At Wolfestone, we pride ourselves on our exceptional customer service, our highly-qualified providers and our state-of-the-art technology and security. Get in touch today to see how you can benefit from our services.