Impact of Brexit on Intellectual PropertyOn June 30, 2016 by Schnader
Now that the dust is settling on the UK’s decision to leave the EU, our clients are asking what this means for them. Change always brings opportunities, as well as challenges, and we are focused on helping our clients understand how these changes can benefit their business during the period of transition ahead.
We do not know when the exit will actually happen, but once the UK officially notifies the EU of its intention to leave, negotiations will need to be completed within two years. The two-year period can be extended, but only if all the other 27 EU countries agree to extend the deadline. So, there will be no dramatic change overnight. However, now the hard work begins to assess the implications of the decision – and there are a lot of legalities to work through, not the least of which is the election of a new Prime Minister.
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