Intellectual property rights
UK decision to invoke Article 50 of the TEU: More information
As of 30 March 2019, all EU law will cease to apply to the UK, unless a ratified withdrawal agreement establishes another date, or the European Council and the UK decide unanimously to extend the two-year negotiation period. For more information about the legal repercussions for businesses:
Protecting your intellectual property has several benefits:
- If you protect your invention, such as a new product, you become the only person with the right to use or reproduce it. Others cannot copy or reproduce what you have done without your permission.
- When you protect your invention, the quality of the product is guaranteed and its origin is clear. This can be an advantage for your business, because customers may prefer to buy a product that has passed more restrictive checks (a controlled good).
- You can earn money not only through direct use of IP, but also indirectly through licensing contracts. This is when you grant a licence to another company to use your IP protected subject matter for a certain period of time.
- In some cases, such as for copyright and unregistered design, protecting your IP is automatic and doesn't require any formalities.
- Owning a patent or a trade mark can increase your market value and make it easier for your business to find investors or other funding opportunities.