6 Areas Of UK Law Most Affected By Brexit

The vote to leave the European Union could radically change the U.K.'s legal and regulatory ties to the rest of Europe. Among the most affected will be practices focusing on finance, intellectual property, competition, data protection, immigration and international trade. The U.K. must invoke Article 50 of the Treaty of Lisbon in order to commence breaking away from the EU. The article that provides breakaway states a two-year period to agree on exit terms, which would include replacement trade agreements with the EU. Any extension to this timeframe would need unanimous agreement from the remaining 27 countries.