The UK's historic vote to leave the EU raises significant challenges and potential opportunities for all multinational companies that trade with and operate in the UK.
Now that the Brexit negotiations have started, it is vital for businesses to stay informed about the outcomes and how it affects them. Read our guide to the Brexit process to find out more about the logistics of the UK's departure from the EU, and follow our Brexit publications to keep up-to-date with the developments.
The central commercial question to be resolved during the negotiations is how UK and EU businesses will do business with each other in the short term during the transitional period between Brexit and the entry into force of a new UK-EU trade agreement, and in the long term under the new trade agreement.
It is already clear, however, that UK companies are not going to enjoy the same access to the EU's Single Market under a trade agreement as they do while the UK is a member of the EU.
The main threat faced by businesses that are vulnerable to the impact of Brexit is uncertainty about the outcome. Nonetheless, affected businesses would be well advised to assess the impact of a worst-case-scenario Brexit on them now, in other words without any withdrawal agreement in place, and have in place contingency plans which are flexible enough to respond to developments in the negotiations.
DLA Piper's team of experienced sector specialists has examined the potential impact of the Brexit on a number of key sectors. Explore them below: