Challenges for IP protection in Post-Brexit scenario
In the current environment of constant development of digital technology, shaking the foundations of all sectors, intellectual property rights are playing an increasingly fundamental role in the technology industry.
Industry sectors such as FinTech and MedTech are growing at a very fast pace, delivering disruptive innovation for the respective industries. The value of the IP of any given business is a key influencer of the total value of the business itself. Investors usually want to make sure the value of the IP is secure before purchasing or investing in any company. Also, when the business is eventually sold the value of the IP is a big consideration. IP protection ensures a competitive edge for businesses, inasmuch that it plays a major part in preventing copying and counterfeiting of products and can become a revenue stream in the shape of licensing agreements the third parties.
However, the consequent insecure scenario offered by Brexit negotiation may pose a significant threat to UK businesses future intellectual property rights, in that the current laws protecting intellectual property are a by-product of European guidelines. It is still unsure what would be the future holds; whether the future British government will decide to keep the law unchanged or draft something anew.
Companies and business should act early and plan how and which of their IP assets to secure. Moreover, great care should be taken when considering the short and long term benefits and disadvantages of deciding where and how to protect an innovation. This is made even more complicated in the uncertainty of not knowing the post-Brexit scenario.
Considering how complex the protection of intellectual property globally may prove to be, it is highly advisable to resort to the advice of an expert in order to make sure that your innovation is protected from copying, plagiarism and exploitation of third parties and all the other types of infringement or your ability to do business may be seriously hampered.
Lawyers at Giambrone have a complete understanding of the complexities revolving around Intellectual property and its protection. We routinely advise private and corporate clients devising the best possible strategy to protect their patents and innovation.
If you wish to know more about how Giambrone can help to protect your innovations do not hesitate to contact us at firstname.lastname@example.org or telephone +44(0) 203 102 9482