Brexit: Bitesize - The Commercial Law Implications
As part of our 'Brexit: Bitesize' articles, Ian Sherburn, partner and corporate & commercial law expert, looks at the potential implications of Brexit for UK business and corporate/commercial law.
"Although it is too early to predict with any certainty the impact of this morning's result, all the experts thus far are clear that a break with the EU and uncertainty associated with it would be bad for business and damaging to the UK economy.
"It is currently unclear as to which model the UK and the EU would adopt in terms of its new relationship going forward and each model will determine the impact on business. In the short term, it is clear there will be volatility in the markets and possibly a nervousness regarding investment, merger and acquisition activity, impacting on the number and size of transactions.
"The view of many experts is that this result will impact significantly on the UK economy in terms of both growth and jobs, which itself will ultimately impact on public service provision. Companies and businesses will have to review trade terms with European-specific provisions and it is likely that this will be a continuing process of review as Brexit is a protracted process which could last several years.
"All advisers will be reviewing the fallout from Brexit and associated regulations with great care and will be revising commercial and trading agreements as appropriate in the coming months.”