The EU-UK Trade and Cooperation Agreement, now in place, means change. It will require adapting to new trading arrangements, rules and regulations. This information for cross-border SMES in Ireland and Northern Ireland will introduce intellectual property, what it means, the position now and next steps.
Intellectual Property FAQ’s
Intellectual property is defined as something that you create using your mind. For example, a story, an invention, an artistic work or a symbol.
Having the right type of intellectual property protection helps you to stop people stealing or copying:
The main intellectual property rights cover a number of areas, including Patents for Inventions, Trade Marks, Industrial Designs and Copyright:
It should also be noted that intellectual property also encompasses such areas as know-how, trade secrets, protection of plant varieties etc. It is often the case that more than one type of intellectual property right can be applied to the same creation.
The Position Now
The transition period has ended and the European Union and the United Kingdom reached an agreement in principle on the EU-UK / UK-EU Trade and Cooperation Agreement. From 1st January 2021 there will be changes to UK intellectual property law to ensure the smooth departure from EU IP systems.
Existing EU trademarks
On 1 January 2021, the UK Intellectual Property Office will create a comparable UK trademark for every registered EU trade mark (EUTM). You will not need to pay for your equivalent or comparable UK trade mark – and there will be as little administration involved as possible.