The EU’s new copyright reforms could put off entrepreneurs from starting up their own businesses.

The laws need to be updated for their use in research, education and cultural heritage. It is when start-ups use text that they do not own, that they will soon have to explicitly ask the source of the material for permission to use it. This would affect them for the first three years of their business. This would be virtually impossible for start-up companies who rely on mining words and data. Specifically, the law would affect start-ups working on AI, news aggregators, social media tools and ecommerce.

It is because this law would make starting up a business so problematic, that it has been suggested that new entrepreneurs should be exempt from this law. This is in the interest of the EU’s economy, as if investors envisage that this will put off potential entrepreneurs, they will withdraw their investments from the European economy. Additionally, since businesses outside of the EU which trade with the EU will not be subject to this law, it will put European companies at a disadvantage and make them less competitive.

The final decision for this law will not be made until 10th October 2017 by the Legal Affairs Committee.

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