On June 23, 2016, British people voted to leave the European Union (EU), the so-called “Brexit.”
What will happen now? This is the question!
For the time being, the European IP Rights landscape remains the same. No changes are likely to happen in the immediate future.
The UK Government has not decided which strategies will be adopted and the timing of the mechanism is also not yet known.
According to the Treaty of Lisbon, the UK is expected to be a member of the EU until mid-2018 at the earliest. At the moment, and until the actual leaving date is reached, all EU IP rights will apply equally to the all other EU member states.
A process of negotiation and adjustment of the system will start with multiple possibilities, including the United Kingdom to completely leave the European Union or to stay in the European Economic Area (“the Norwegian way”). Due to the many possible scenarios, it is important not to rush and be attentive to the next events.
Therefore do not make hasty decisions. Each holder of IP Rights will have different needs.
There is no one-size response that fits-all IP holders.
The law is changing but we will be able to keep you up to date with suggestions for your personal needs.
Should you have any further questions, please contact us.