What does IP completion day mean for contract clauses?
What does IP completion day mean for contract clauses?

The following Commercial practice note provides comprehensive and up to date legal information covering:

  • What does IP completion day mean for contract clauses?
  • Summary table
  • References to EU law
  • Drafting examples
  • Definition of ‘Territory’
  • Drafting example
  • Definition of ‘Law’
  • Definition of ‘Intellectual Property Rights’
  • Drafting example
  • Definition of ‘Design’
  • More...

What does IP completion day mean for contract clauses?

This Practice Note explains how to review and amend key contract clauses to ensure that they are suitable for use following 11 pm on 31 December 2020, the point (referred to as IP completion day) at which the implementation period in respect of the UK’s exit from the EU came to an end. This note is intended mainly to assist organisations reviewing their standard contracts for use following IP completion day, rather than amending existing contracts, although it may be useful for the latter.

Although the underlying legal changes that have taken place are substantial, contracts remain largely unaffected and English contract law has not changed.

The Trade and Cooperation Agreement (TCA) agreed between the EU and the UK on their future relationship does not fundamentally change the impact that the end of transition has had. For further information, see: LNB News 24/12/2020 76 and LNB News 28/12/2020 12.

The majority of the necessary drafting changes are minor and cover changes to statutory references, definitions or terminology. Data protection is the area requiring the most scrutiny due to the change in legal regime coupled with the fact that the UK is now a third country for data protection purposes. Most boilerplate, including governing law and jurisdiction clauses, require no modification although changes in the underlying law means that there

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