A secondary buyout (SBO) involves the sale of a group (the target) by a private equity fund and the target’s management team to a company (newco) funded by a new private equity investor in conjunction with the management. The SBO has become a popular exit route for private equity funds.
There has been much speculation on what will happen to European IP rights in the UK following Brexit. Rights holders now have greater clarity following the publication of the draft withdrawal agreement under negotiation between the UK and the EU. Here is a brief synopsis of the main points agreed so far.