TRANSLATION AND LOCALIZATION

Due to the influence of globalization on economic sector, a demand for new services within language transfer appeared. A new composite industry termed GILT introduced new terms into linguistics, which have not yet been properly researched under the theory of translation. Internationalization, localization and transcreation suggest a new approach to translation in a modern world, and may require revision of the basic definitions within translation studies. The following article deals with newly appeared subdisciplines in translation studies, dictated by the need to adapt products and make them marketable for the foreign markets. The author defines, analyzes, compares and clarifies the above-mentioned terms, which are widely used nowadays within the fields of translation studies and global marketing. This article also explains the role and place of these mechanisms of language and cultural adaptation of a product within the process of its development and preparation for the foreign markets, also known as globalization. In conclusion, the author points out that these terms require further study within the theory of translation, and that adoption of these terms may require reviewing the role of translation in the 21st century world.