In any tax system, a high level of certainty is required for both ease of tax administration and the efficient collection of tax liabilities. Likewise, for companies and their stakeholders, domestic and international tax-related certainty is a fundamental goal. The UK’s EU referendum and potential exit from the European Union represent serious threats to this desired stability. And the biggest challenge businesses will face from a potential “Brexit” will be negotiating the resulting uncertainty.
The coming UK referendum on whether to remain in or leave the European Union could have serious ramifications for multinationals operating in the UK. This post is the first of a three-part Radius series examining a potential Brexit and the related legal, HR and tax implications companies should be aware of.
There is a commonly held belief that a global employer will automatically own the inventions produced by its employees. The reasoning goes that an employer is legally “covered” because its employees have signed a standard US-style Intellectual Property Agreement (IPA) granting the company ownership. The reality is that in most countries the employee will be the legal owner of a workplace invention, and a US-style IPA — in which all future workplace inventions are assigned to the employer — will be powerless to grant ownership to the company. In this article we aim to dispel some common IP misconceptions, provide insight into global IP laws, and provide guidance on how an employer can ensure it has the best possible chance of securing IP.
Earlier this month, UK Chancellor George Osborne announced his Summer Budget to Parliament. The Budget made news in the UK and beyond primarily for its plan to raise the UK’s National Living Wage at the same time that it cuts welfare benefits. While the new minimum wage requirement is noteworthy for multinationals operating in the UK, there are other aspects of the Budget that will more seriously affect those businesses, for better and worse.