Uncertainty Surrounds Trademark Holders with the Looming Brexit
UK Prime Minister Teresa May’s Withdrawal Agreement has been voted down by a significant margin, and has left trademark holders speculating about their very uncertain futures.
May’s deal provided thorough trademark protection for UK companies, and now that it has been rejected, uncertainty surrounds the Intellectual Property (IP) industry as it does with countless other sectors. However, regardless of how Brexit evolves, EU trademarks will eventually be transformed into UK rights and, according to the government, these will come with simple documentation processes to make the transfers as easy as possible to carry out.
The new UK equivalent of the EU trademark will come into force on the very day that the UK leaves the European Union. What this means for trademark holders is that they will now need to renew their trademark protection in the UK; any court proceedings will be brought before the UK Courts as well as the IPO Tribunal.
Indeed, it seems trademark holders are already preparing themselves for Brexit and the new laws concerning trademark protection which Brexit may bring with it.