Managing partner at Eversheds Sutherland Ireland Alan Murphy says that businesses need to be very conscious of a possible return to 'hard Brexit' territory following the U.K.'s formal exit from the EU last week.

Speaking to Law.com International, Murphy notes that while "Brexit fatigue" may be the current sentiment among businesses and clients, businesses will be watching monitoring developments very closely as trade negotiations begin.

"While a lot of the discussions on Brexit up to now were largely theoretical, a withdrawal agreement is now in place and the trade negotiations will be much more tangible for businesses", he argues.