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This article is an updated version of a previous Brexit related article which takes into account the UK’s revised date for leaving the EU.
Following an extension agreed by EU leaders back in April, the UK is now expected to leave the European Union on 31 October 2019. The UK’s departure from the EU may have an effect on your Intellectual Property Rights. This article is designed to briefly set out those potential changes.
There is a key ‘switch-over’ date for IP, which is referred to here as “Exit Day”. The exact date of Exit Day will be different depending on the manner in which the UK leaves the EU.
In the event of a “No Deal” Brexit, where a Withdrawal Agreement has not been agreed by both sides, the UK will leave the EU without any transition period and Exit Day will be the end of the Article 50 period. Currently the end of the Article 50 period is 31 October 2019, though this date could potentially be extended again if there is still no agreement by that date.
If the Withdrawal Agreement is agreed by the EU and ratified by the UK, this provides for a transition period during which the UK will no longer be part of the EU, but will still be bound by EU rules. In this scenario ‘Exit Day’ is the end of this transition period (the end of December 2020 at least though potentially this date could also be extended).
References to “Exit Day” below should therefore be read as encompassing either the “No Deal” exit day or the exit date at the end of the transition period.