Creative and technology industries best served by Remain vote, warns law firm

Hayley Kirton
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A move away from the EU would hurt IP holders in general, the law firm warned (Source: Getty)

A Brexit would hamper the UK's creative and technological industries, a law firm specialising in intellectual property has today warned.

EIP also noted that it was supporting the Remain campaign, adding that a vote to leave the EU would be bad for intellectual property (IP) rights holders in general.

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"We, the partners of EIP Europe LLP, have concluded that we cannot adopt a neutral position on the EU referendum," said EIP in a statement. "In our view, the benefits for IP rights holders that come with the UK's membership of the EU are substantial.

"The EU interventions and initiatives in intellectual property have not always been optimal, but overall offer more benefits than drawbacks. The creative and technological industries are best protected by the UK remaining in the EU."

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Vote Leave had not responded to City A.M.'s request for comment at time of writing.

A recent government report discovered that more than a third (39 per cent) of GDP across the entire EU was in some way linked to IP activities, while statistics show that the creative industries are worth £71.4bn per year to the UK.

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A Britain Stronger in Europe spokesperson said:

The overwhelming consensus amongst businesses, from law firms to manufacturers, is that Britain's economy is stronger in Europe.

Staying in means we can continue to have access to the EU's single market, our home market of 500m, and a say over its rules.