Post-Brexit Business – Brand Britain

When Britain officially left the EU in January this year, turmoil began over the transport of goods between borders, leaving millions of pounds worth of goods stuck in transit. It is certain that goods exported between Britain and the EU come with heavy bureaucracy, but now that the UK is independent, opens opportunity for businesses further a stretch.

A study from Barclays Corporate Insights suggests that there is room for British business overseas particularly when it comes to branding products and services with a British edge. 36% of respondents from all regions said that they are now buying more British-made products than they did five years ago, which could increase margins particularly in sectors where competition in domestic markets create pressure on pricing.

Markets such as India and China are showing potential export opportunities where both expressed a willingness to buy British due to their perception of British quality and value for money. Overall, the findings suggest how valuable Brand Britain is to UK companies who trade internationally and to those wanting to invest in doing so. According to the study, promoting the Britishness of products across the responding 10 key markets could generate an added value of more than £3.5bn per year.

As most traders who export will know, entering foreign markets with a high-value product opens the door for potential breaches against intellectual property and competing against those who may impersonate their brand.

Poor IP strategy can undermine businesses in new markets. Even if businesses have registered their trademark in the UK, does not mean it will be recognised in markets such as China and India.

What we think

“We always recommend protecting intellectual property in both domestic and foreign markets. Since leaving the EU, it has never been more important for UK companies to review their IP strategy and identify any gaps in their protection.

“IP protection and enforcement are crucial for economic growth and for a company’s ability to stimulate innovation and stay competitive globally. It is important to note that adequate IP protection and enforcement are equally important for leveraging the trade potential of intellectual assets and income and safeguarding jobs. Without a proper global trademark strategy, benefits cannot be fully realised, protection and enforcement are not fully available and companies can remain vulnerable to the risk of infringement.”

Siamak Goudarzi, PhD – Managing Partner.

Find out more

Our Commercial Law services help businesses in the UK with intellectual property and trademarks. Protecting your brand, can save your entity from economic loss and allows you to explore options with licensing. For more information about our commercial law services click here.

Disclaimer: Information on this webpage is not intended for legal purposes or advice. If you require legal advice or services you should seek a professional legal practitioner.