Shoosmiths' legal experts discuss the potential impact Brexit will have on the business sector in the latest board paper from the UK law firm.
Markets are currently under pressure, faced with the uncertainty of what a Brexit could bring. Although a two-year exit period is available for negotiations to take place, there are issues that Brexit has raised that businesses should be aware of.
In the paper Craig Armstrong - commercial partner at Shoosmiths - analyses the potential issues businesses should consider with regards to key commercial aspects including data protection, intellectual property, employment and competition law. In addition, the potential effect on commercial trading relationships is focused upon, looking at importing costs, EU regulations, territorial scope and changes to regulated services.
Craig commented: 'This period of uncertainty is of great concern to the business sector.
'We have produced this paper to set out what we deem to be potential issues for businesses to consider post-Brexit.
'It outlines steps businesses could take to identify risks and mitigate the impact of any potential changes brought about by Brexit, particularly in the areas of contractual due diligence, amending dispute resolution clauses and reviewing intellectual property portfolios.'
Shoosmiths' commercial team is recognised nationally for its broad legal expertise and has been ranked a top 10 law firm for commercial law by reference to the number of FTSE clients acted for. Operating across the UK, Shoosmiths commercial team works across numerous industries and sectors.