Brexit: what this means for Trademark and Design owners.
The UK has voted to leave the European Union. This raises many questions about what happens now with the UK and our future relationship with the EU trade mark and design system.
For the moment it is business as usual and trade mark and design owners should not panic – European Union Trade Marks and Registered Community Designs remain valid in the UK and there is no immediate loss of IP protection.
Once the UK formally gives notice to exit the EU negotiations will begin on the status of EU marks in the UK and whether any transitional provisions will be required to grandfather across EU trade mark and registered design rights into the UK.
We do not know when the exit will actually happen but once the UK officially notifies the EU of its intention to leave, the negotiations need to be completed within two years. The two-year period can be extended but only if all the other 27 EU countries agree.