Lead time meaning

The IPO plans to introduce a two-hour time limit on hearings, promote mediation proceedings and modernise digital IP services to help to streamline services. However, practitioners argue the IPO must take additional steps to address acute delays, warning that slow action could imperil the UK’s standing as a beacon for soft IP disputes. Roland Mallinson, partner at Taylor Wessing LLP, cautioned that if the queue remains this lengthy, the UK risks forfeiting its reputation as a forum where inexpensive, rapid, fully reasoned and impartial rulings on IP disputes are available and can support resolution of wider geographic conflicts. The tribunal has been weighed down by a heavy caseload, especially after Brexit, when businesses filed a surge of applications to secure UK cover for their trade marks. That surge clogged the examination division, and matters deteriorated further when a wave of oppositions to those trade marks followed. Practitioners say the office must act faster and go beyond current plans to clear severe backlog and protect the UK’s lead in soft...

On 5 February 2025, the broking and risk adviser reported in its Global Insurance Market Index that average costs kept sliding further in the last quarter of 2024, following a 1% decline between the second and third quarters of that same year. Marsh noted the steepest reductions late in 2024 were in the UK and the Pacific, where typical prices dropped by 5% and 8%, respectively, according to the report. In the US, rates were unchanged over the same time period, the report said. Globally, property insurance pricing fell by 3%, the study added. Casualty insurance rates were the only major class to register an increase across the...

In this issue: Pharmaceuticals—regulatory framework Competition in life sciences Medical devices Intellectual property Commercialisation Research and development Data protection and life sciences Advertising of medicines LexTalk®Life Sciences: a Lexis®Nexis community Daily and weekly news alerts New and updated content Dates for your diary Trackers Useful information Pharmaceuticals—regulatory framework MHRA publishes its strategic approach to AI The Medicines and Healthcare products Regulatory Agency (MHRA) has set out its strategy for artificial intelligence, mirroring the government’s white paper, ‘A pro-innovation approach to AI regulation’, and its guiding principles of safety, security, fairness and accountability. It evaluates AI’s opportunities and risks in three roles: as the regulator of AI products, as a public service making time-critical decisions, and as an organisation that bases decisions on evidence. See: LNB News 30/04/2024 78. EFPIA publishes circular economy white paper for pharmaceutical industry The European Federation of Pharmaceutical Industries and Associations (EFPIA) has...

This Practice Note outlines when someone can become liable to a VAT-related penalty. A person charged with a VAT penalty may have a right of appeal; for guidance on appeal rules, see Practice Note: Appealing an HMRC decision. Civil penalties There are two broad types of civil penalties: those arising from failure to meet basic compliance obligations, and those stemming from more serious conduct or omissions This Practice Note highlights the principal penalties in each group; for a comprehensive list, consult the further reading link to De Voil Indirect Tax Service [V5.332]. Civil penalties are issued by HMRC through assessment; for general information on assessments, see Practice Note: VAT assessments. Penalties for basic compliance failures Penalties apply where a taxpayer does not meet core VAT compliance duties, including: breach of regulations made under VATA 1994. These regulations set out detailed collection and payment rules, so most administrative mistakes are covered. Failure to carry out specific obligations,...

The overriding objective Central to the Employment Tribunal Rules of Procedure (ET Rules) sits the ‘overriding objective’. Its purpose is to ensure employment tribunals (ET) handle cases in a manner that is fair and just. The tribunal is required to give effect to this objective when it is: interpreting the ET Rules, and exercising any power conferred by the ET Rules In addition, the parties and those representing them: must help the tribunal to advance the overriding objective, and must, in particular, co-operate generally with each other and with the tribunal Beyond this broad statement that the objective is to enable ET to resolve cases fairly and justly, the Employment Tribunal Procedure Rules (ET Rules 2024), SI 2024/1155, Rule 3, also provides further, more specific illustrations of what this should entail...

Practice Note While EMI share options can be highly tax‑efficient, they also carry notable traps. Poor drafting or faulty implementation can lead to serious tax consequences for both staff and the business. This Practice Note highlights the most frequent misconceptions and errors when: determining if a company is eligible to grant EMI options setting up an EMI scheme, and running an EMI scheme Specifically, it explains: what counts as an EMI option the fall‑out if an EMI option is drafted or put in place improperly the impact of mishandling an EMI qualifying option in operation recurring misunderstandings and errors when testing company eligibility to grant EMI options recurring misunderstandings and errors when establishing an EMI scheme recurring misunderstandings and errors when operating an EMI scheme, and ways to prevent errors and misconceptions when dealing with EMI options This Practice Note addresses only the common misunderstandings and mistakes concerning EMI...

Client details Client name [ Insert name ] What business are we tendering for? [ Provide a brief outline of the work your firm is tendering for ] Logistics and team Presentation date [ Insert date ] Venue [ Insert venue ] Presentation start/finish time [ Insert times ] Presentation team [ List the presenters, noting their roles and areas of expertise. Specify who will lead the presentation. Consider including a junior colleague, as clients often like to see this. ] Back-up team [ Who will cover if one of the presenters cannot attend? ] Has the presentation date and time been added to all team members’ diaries (including the back-up team)? ☐ Yes ☐ No Have all team members (including back-up) confirmed availability? ☐ Yes ☐ No Have travel plans been arranged for all team members, and has sufficient travel time been entered into all diaries (including back-up team)? ☐ Yes ☐...

General Date of meeting [ Insert date ] Chair/lead [ Insert name and role ] In attendance [ Insert names and roles ] Date of request for proposal (RFP)/invitation to tender (ITT) [ Insert date ] Prospective client [ Insert name ] Agenda Clarify: the scope of work we are invited to tender for any questions in the RFP/ITT requiring answers evaluation criteria/scoring system the submission date and time [ Ensure you have complete clarity about the scope of work ] [ Make sure you identify every question or criterion you need to cover in...

subscription and shareholders’ agreement/investment agreement Insert new definitions: A Ordinary Shares; Board; Chair (per clause reference); Investor Consent/Investor Direction (written consent by the Lead Investor or holders of at least [75]% in nominal value of A Ordinary Shares); Investor Director; [Lead Investor]. Add a clause granting Investors the right at any time to appoint and remove non-executive Investor Director[s] and a non-executive Chair by written notice (first appointments effective on Completion), appoint alternates, disapply retirement by rotation, and secure fees of £[amount] p.a. plus VAT and expenses. Establish post‑Completion [remuneration and audit] committee[s] with casting vote rights. articles of association Add definitions for A and B Ordinary Shares, Preference Shares, Investor, Investor Group, Investor Associate, Investor Director, Investor Consent/Direction, Investor Director Interest, Group Company Interest, Co‑Investment Scheme, Confidential Information, FSMA, Fund, Lead Investor, Recognised Investment Exchange, Quotation and Sale. New articles set Board size; permit alternates; regulate meetings, quorum and remote participation; enable authorisation of conflicts and Investor Director/Group Company interests with disclosure and, if directed, A...

Resident Labour Market Test (RLMT) When placing a vacancy under the resident labour market test (RLMT), a sponsor must retain a screenshot of the website taken on the day the advert first goes live, unless the advert itself shows the date it was posted, in which case the screenshot can be produced at any point while the listing remains valid. See Practice Note: Resident Labour Market Test. If the wording of the advert is altered, the screenshot held by the sponsor to meet the above requirement will not match the actual particulars of the role (including the remuneration package). This inconsistency could lead, on audit, to a finding that the RLMT process was not followed. To minimise the risk of non-compliance on this matter, it is advisable to repost the advert, capture the requisite screenshots on the first day it appears as required by the RLMT, and refrain from changing the advert’s contents throughout the minimum 28-day period...

If a lease was granted at undervalue, you are the 3rd owner, and you knew it was at undervalue, if creditors ask for an order returning the property to the original owner you cannot claim relief? Transactions at an undervalue (TUVs) are regulated by the Insolvency Act 1986 (IA 1986). The relevant provisions are: sections 238, 240 and 241 of the IA 1986 for companies sections 339 to 342 of the IA 1986 for individuals These powers are available to trustees in bankruptcy, liquidators (in both compulsory and voluntary liquidations), and administrators. They permit the office-holder to review dealings made by the insolvent person or company in the lead-up to insolvency and to assess whether assets should be recovered for the insolvent estate. In particular, an order under: section 241 of the IA 1986 (for companies), or section 342 of the IA 1986 (for individuals) cannot be made against the other party to a...