Brands’ concern over post-Brexit protection revealed in report
Almost half of UK and European businesses expect to change their brand protection strategies after the UK leaves the EU, although 31% don’t know how they’ll register trademarks, according to a report from IP specialists HGF.
Exactly a third (33%) of respondents 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 found to be a worry, with 54% of respondents expressing concerns 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 of respondents were worried 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.
The ‘Brand Protection Beyond Brexit Report’ spanned more than 120 businesses, many of them world leaders in their markets and industry sectors, and was carried out by HGF.
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.
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