On 31 December, the transition period for the UK’s departure from the EU will end. This has important consequences in the short and medium term for companies manufacturing in and exporting from the UK, as well as those exporting to the UK. Whilst time is short, it is not yet too late to make preparations and navigate the challenges and potential pitfalls. Whatever the outcome of UK-EU negotiations for a future relationship, it is clear that individual companies will need to execute tailor made solutions.
Since EU law will cease to apply and becomes “domesticated” UK law, entities based in the UK will no longer be considered “established” in the EU (subject to special arrangements for Northern Ireland). This means that current regulatory compliance models for the EU-27 market will cease to function unless measures are taken. From a UK perspective, a key short term challenge is securing adequate data rights in order to continue to have access to the UK market – since EU acquired data rights will not be carried over automatically. Data rights management and negotiations should start now, if this is not already underway.
Darren Abrahams (barrister), Hannah Widemann (avocat), Zanda Romata (solicitor) will discuss the key issues around market access and data rights:
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