It’s rare for a political event to crystallise a whole set of business risks and uncertainties. But one of those exceptional circumstances has arisen with the decision of the United Kingdom to leave the European Union. While much remains uncertain, indeed the uncertainty is one of the challenges, the nature of those risks is very clear.
Businesses will want to be considering their trading patterns, their supply chains, their customer trading relationships in Europe, they will want to be considering access to capital markets and access to loans and subsidies from Governments. There will be issues relating to key employees, do they have the right to resign, will their professional qualifications be recognised in the UK and across Europe. There may be public procurement questions, issues relating to data protection and the transfer of data within the company and to customers. There will be questions relating to commercial contracts, their enforceability, the ability to get out of contracts given the Brexit decision.
At Norton Rose Fulbright we’ve established teams to focus on these issues. These teams include experts on EU law and procedure, people who have a good understanding of your industry and people located close to your decision-making centres, whether they be in Europe or elsewhere in the world. We would welcome the chance to talk to you about how we can integrate our expertise with your business needs to build a relationship going forward to address some of these great challenges. Details of how to contact us and of our views on some of these issues can be found on our website.