On the 1st January 2020 we will leave the EU and the UK will become its own independent country. Although UK technology companies will continue to operate in Europe, without a European business address, the impact is huge, meaning that some technology companies and innovators will be affected.

What adjustments are technology companies making?

EU domains will cease – If your company runs under a EU domain rather than a ‘.co.uk ‘ then on the 1st January this domain will no longer operate, unless you have a registered European address whereby you can re-register the domain rather than the UK address. If businesses don’t have a European address, then they should obtain a new domain and notify all customers of the change. Please note that this could affect your emails too, if you use the .eu as the prefix, i.e. jane@business.eu . If you think that your business could be affected, then please check your eligibility via the .gov.uk website.

EU trademarks (EUTM) will no longer be protected in the UK – However, owners of registered EUTM’s will be granted a comparable UK trademark according to a recent article by mondaq.com. The primary reason is to keep administration to a minimum, allowing them to keep their original filing date. When renewal does arrive then organisations will have the choice to renew both the UK trademark and the comparable EUTM as individual entities or just the UK.

Processing data could adhere to different rules – Data centres have been preparing for Brexit for some time now. Data centres which originally stored data for the EU but in the UK datacentres have now set up European centres to prepare for transferring data back to the EU. This also means that UK data held in the EU is being migrated back to the UK. Currently both sides are adhering to GDPR, however in due course this may change in terms of the UK if we decide to update our own legislations outside of EU GDPR.

To find out more about protecting your business with digital technology insurance, cyber attack insurance, GDPR insurance or intellectual property insurance, please contact our team at Crendon Insurance. As specialists in supporting digital technology companies across the UK, we aim to help businesses with digital technology insurance cover which is individually tailored to their business.

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