Mayer Brown is one of the first global law firms to have developed an online solution to help clients determine the potential impact of Brexit on their business and the actions that they should take to manage the associated risks.
As the government begins to grapple with the complexities surrounding the UK’s exit from the European Union (EU) and its future international trading relationships, the firm’s innovative and interactive methodology provides a solution for clients looking to identify the most important areas of potential legal change and prioritise those that should command their attention.
BRIMA, Mayer Brown’s Brexit Impact Assessment tool, enables clients to identify areas of concern that are most relevant to their business and rank each issue by importance, impact and the effort required to address them. This online resource cuts through the complexity of dealing with Brexit to provide businesses with a simple, bespoke report on their risk profile and priorities. The priority areas identified can then be explored further using the tool’s database of issues and responsive strategies, which have been prepared by Mayer Brown lawyers across a range of practice areas.
Working in collaboration with in-house counsel and senior executives, lawyers from Mayer Brown use the technology offered by BRIMA to evaluate the risks associated with Brexit, consider resource requirements and identify those risks with the greatest potential impact on the clients’ business. The tool also gives clients a single point of access to a range of Brexit advisers at the firm.
Commenting on BRIMA, David Harrison, chair of Mayer Brown’s Brexit Working Party and co-leader of the European antitrust and competition practice, said: “The prospect of Brexit has created unprecedented uncertainty for businesses, and Mayer Brown’s Brexit Impact Assessment tool provides clients with a practical means of getting to grips with the challenges and opportunities that this presents. Two thoughts were paramount in the development of this solution. First, we wanted our clients to be presented with a holistic representation of the issues they should be considering. Organisations have been inundated with commentary on diverse issues from multiple sources. BRIMA addresses this, by bringing the issues together in one place. Secondly, we took the view that ‘wait and see’ was not the right approach in relation to managing the risks presented by Brexit. Mayer Brown’s proactive approach to risk management is reflected through this new methodology.”
In addition to BRIMA, Mayer Brown has a dedicated Brexit knowledge hub on its website, complete with written and audio insights on the legal and commercial implications of a British exit from the EU. Since 24 June, the firm has held a number of briefings for clients on the immediate and long-term impact of Brexit across a range of areas, including financial regulation, trade, employment and intellectual property.
Mark Stefanini, a partner in the litigation practice, commented: “BRIMA is about giving reassurance to executive boards that they are both taking the steps that are prudent now to manage the risks and realise the opportunities associated with Brexit, and are primed to respond quickly as the Brexit process proceeds and the nature of the future business environment is clarified.”
Further information about BRIMA can be obtained by sending contact details to: firstname.lastname@example.org