On 23 June 2016, the United Kingdom voted by a narrow majority to leave the European Union. The referendum, commonly known as “Brexit,” has no automatic effect. The UK remains an EU member, and all existing EU-derived laws and regulations continue to apply in the UK.
In January 2017, the UK Supreme Court ruled that only Parliament has the power to trigger Article 50 of the Lisbon Treaty. The decision is seen as a loss for Theresa May’s government; the prime minister had pledged to trigger Article 50 by March 2017.
The new decision may delay the Brexit process; however, it unlikely to halt the UK from leaving the EU.
Further, the exact nature of the UK’s exit and its future relationship with the EU is still clouded with uncertainty.
The Brexit Task Force at Morrison & Foerster is closely monitoring developments in the UK and elsewhere to help you better understand the implications of the referendum on your business. Led from our London office, the Brexit Task Force includes leading authorities from Morrison & Foerster’s European and global network who are tracking developments to help with your contingency planning.
An Insider’s Perspective: A Conversation With Sir Paul Jenkins QC
On 14 September, 2016, Paul Friedman, Morrison & Foerster’s managing partner for Europe, interviewed Sir Paul Jenkins QC. Until recently, Jenkins was the most senior lawyer to the British government and adviser to three consecutive prime ministers: Blair, Brown, and Cameron. In the interview, Jenkins discusses the inevitable uncertainties surrounding the negotiated exit of the UK from the EU, as well as the possible business opportunities.
On an ongoing and regular basis, we have issued a series of Brexit Briefings examining the legal implications with respect to competition, privacy and data security, trademark, intellectual property, restructuring, and tax issues, as well as the significance for emerging companies and the technology, media, and telecommunications sector.
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