Ah yes, another thing to add to the Brexit list.
But this is actually super important. Your contracts might not be viable now in light of Brexit, there are certain things you need to think of. For example:
- Increased trade barriers
- Movement of people
- Currency changes
- Changes in legal jurisdiction
- Regulatory divergence
- Data protection regulation
Long story short – you want to make sure your contracts are still compatible, that they can still be used, and that they’ll still cover you.
You don’t want to find out your contracts are pretty much useless, essentially ‘terminated’, too far down the line – it could cause a bunch of problems for you and your business.
You’ll also need to think about updating your privacy notices, are there certain changes that need to be made due to Brexit?
Take this time to do a review of your important legal documents and make the necessary changes needed to make your contracts fit in a post-Brexit UK.