No deal Brexit - what does it mean for exhaustion of rights?
Exhaustion is the hot Brexit topic du jour. Regardless of the industry, changes to the exhaustion regime are set to affect everyone in ways both predictable and unpredictable. This Kat has had lots of messages from friends in very different sectors wondering what on earth exhaustion of rights could mean and why everyone is so worried about it. The note goes some way toward answering both questions. What is exhaustion? The guidance note has this helpful explanation: The exhaustion of IP rights refers to the loss of the right to control distribution and resale of that product after it has been placed on the market within a specified territory by, or with the permission of, the right holder. A parallel import is a non-counterfeit product which is imported into a country where the intellectual property rights in that product have already been exhausted. The UK is currently part of a regional European Economic Area (EEA) exhaustion scheme, meaning that IP rights are considered exhausted onc...