Brexit happened. So what now? What are some of the legal implications for American companies doing business in the UK, and the rest of Europe for that matter?
Though it’s difficult to ascertain exactly now, some of the issues come down to what type of provisions were provided for in the agreements between American companies and their European counterparts. Some businesses have included provisions that stipulated certain courses of action should that European nation leave the Union, or if the EU’s structure were to change or dissolve altogether.
Nonetheless, parties involved in such international business relationships ought to consult with legal counsel on the appropriate course of action to protect their interests. Lawyers would carefully review the provisions of the contracts binding those parties and assess what type of legal and business decisions would be in the best interest of the company engaged in international business.
Brexit is truly a great example of how the law and international business interact and affect companies’ interests.