UK’s Industrial Strategy announced—new Government contracting approach will favour UK-based firms after Brexit.
According to Theresa May, the UK’s recently installed prime minister, Brexit means Brexit. But what this actually means in practice is still unknown. There is still a huge amount of debate over what Brexit will look like, what process should be followed and how long it will take. Some commentators, such as Michael Dougan, Professor of European Law at the University of Liverpool, have suggested that it could take up to 10 years to make all the necessary adjustments.
In the meantime, it’s business-as-usual in the field of commercial contracts, outsourcing and technology deals. That said, there are some key areas that should be considered when putting these deals together, given what we now know (and still don’t know) about Brexit, as well as provisions that should be kept under review as the Brexit story unfolds. This is going to be an evolving area, but, based on discussions with both buyers and sellers over the past couple of weeks, here are my top ten:
Sourcing Speak