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Currency/Intellectual Property/Contracts

Have you considered the following?

Currency risk

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Context

The months following the EU referendum saw significant currency volatility – this may occur in future.

Your business should consider

What currency are you being paid in?

Have you considered the possibility of further currency movements, and how this might affect existing and future contracts?

Resources and information

Your local Chamber can give you recommendations for mitigating these risks. Find your local Chamber here.

Intellectual Property

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Context

It is unclear whether trademarks registered in the EU would be applicable to the UK in the future.

Your business should consider

Do you own any Intellectual Property rights?

Have you contacted trademark bodies / solicitors / IP advisors on how to protect your intellectual property after March 2019?

Resources and information

UK Government technical notices on intellectual property if there’s no Brexit withdrawal agreement have been published on these topics:

The Department for Business, Energy & Industrial Strategy have published guidance on how UK intellectual property law will change when the UK leaves the EU https://www.gov.uk/guidance/intellectual-property-after-brexit

Copyright if there’s no Brexit deal: http://www.gov.uk/government/publications/copyright-if-theres-no-brexit-deal

Exhaustion of intellectual property rights if there’s no Brexit deal: http://www.gov.uk/government/publications/exhaustion-of-intellectual-property-rights-if-theres-no-brexit-deal

Patents if there’s no Brexit deal: http://www.gov.uk/government/publications/patents-if-theres-no-brexit-deal

Trade marks and designs if there’s no Brexit deal: http://www.gov.uk/government/publications/trade-marks-and-designs-if-theres-no-brexit-deal

Contracts review

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Context

Some of the terms in existing contracts may no longer be relevant post Brexit, or may raise legal or practical questions in future.

Your business should consider

Do your contracts refer to any terms that should be reviewed in light of the UK leaving the EU?

Do they make references to the UK being a member state/to the EU?

Does your contract rely on EU regulation applicable to contractual arrangements?

Resources and information

UK Government technical notice on civil legal cases if there’s no Brexit withdrawal agreement: http://www.gov.uk/government/publications/handling-civil-legal-cases-that-involve-eu-countries-if-theres-no-brexit-deal