By Ben Kerrigan
Almost half of UK and European businesses expect to change their brand protection strategies once the UK leaves the EU, although 31% don’t know how they’ll register trademarks, according to a report from IP specialists HGF.
The surveyors said that ongoing negotiations and unresolved
political debate on the future status of the UK in its relationship with the EU has created an environment of uncertainty for business. In other words the unpredictability of the implications for businessmen is creating a bother.
Over 120 companies were consulted for the survey, most of them being global leaders in their respective fieldsA third (33%) of those surveyed say Brexit will make brand protection harder, with 61% believing it is now important to have IP advisors based in multiple European jurisdictions, and 83% saying local knowledge will be a key benefit.
The loss of EU protection was also a source of concern, with 54% of respondents apprehensive about the impact of the global counterfeit industry on their businesses, given the EU’s emphasis on muscular protection and enforcement of IP rights in third countries.
The survey also revealed that two thirds (66%) of large businesses said continued Brexit uncertainty was having a negative impact on brand, sales and their wider business, with almost the same number concerned about an economic slowdown in key markets over the next 18 months.
More than a third expressed worry about being able to recruit and maintain appropriately skilled staff. Businesses are also concerned that brand licensing would be more complex in other EU territories after Brexit, with additional legal jurisdictions to negotiate, more trademarks to file, and possible issues with cross border knowledge and policing around brand protection.
. Respondents represented brands across the FMCG (fast-moving consumer goods), entertainment, automotive, food and drink, cosmetics and luxury goods sectors, with combined revenues of hundreds of billions of pounds.