x
Our website uses cookies. By continuing to use the site, you agree to our use of these cookies. To learn more about how we use the cookies and how you can manage them, please see our cookies policy.
Despite a number of experts stating that the intellectual property (IP) rights at present sanctioned by the EU Intellectual Property Office with effect in the UK would almost certainly be unaffected by the British Brexit it seems that far from being impervious to the consequences of Brexit there is the potential for far-reaching and an entirely unwelcome impact on the UK.
The European Commission’s recent communication outlines the changes most likely to follow after the withdrawal date, the most stringent of which are as follows:
The intellectual property of a business forms one of its most valuable intangible assets and should be protected at all costs; particularly so as the intangible rights of a business are gaining in value and forming a significant part of the business assets. If no agreement is reached to specifically enshrine the UK IP rights currently under the protection of the Community, which will depend on the final withdrawal agreement, UK legislation may have to be called on to assist in protecting these important rights.
It is to be hoped that an orderly exit would include some provision for the considerable number of UK companies that rely on the protection afforded by the European Intellectual Property Office. It would be wise to put in place some protective action in good time as, if the UK does not receive any consideration in this respect there will be an almighty rush by businesses to ensure that they are protected which will almost certainly result in a long queue and the potential for the risk of exposure allowing rivals to step in and register the asset as theirs.
For more information on protecting your intellectual property please contact clientservices@giambronelaw.com or telephone 020 7183 9482.