January 27 - Suppliers involved in helping stage London 2012 will be able to promote their involvement in the Olympics and Paralympics after a landmark deal was reached between the Government, the British Olympic Association (BOA) and the International Olympic Committee (IOC).
It marks the first time that companies that supplied goods and services for the Olympics and Paralympics will have the opportunity to promote their involvement with the Games to help develop new business.
Until now companies have been banned, under the terms of the contracts they have signed, from associating themselves with the Olympics.
But this deal will allow the tens of thousands of companies that worked on London 2012 in various ways to actively promote their work on the Games.
This includes the companies that contributed in various ways from helping to build the Olympic Park and venues to providing goods and services at Games-time.
The deal was announced by London 2012 and BOA chairman Sebastian Coe alongside Culture Secretary Maria Miller.
It is designed to boost the country's economy by helping firms land contracts and deals on the back of their involvement with the Games.
"Thousands of British businesses supplied goods and services that were essential to the successful staging of the Games and I am delighted that many of these companies will now have the opportunity to highlight and officially promote their involvement in the Games," said Coe.
"This should be a catalyst in creating new business opportunities and further growth for these companies and that is an important economic legacy of the Games.
"It is also important to recognise and thank the International Olympic Committee and the Department for Culture, Media and Sport for their support of this first-of-its-kind programme."
The Government has additionally committed £2 million ($3.2 million/€2.5 million) to the BOA to allow them to establish and operate the new 'supplier recognition scheme'.
Companies will be able to apply to the BOA for a free licence.
On receipt of the free licence they will be able to promote their work at trade shows both in the UK and internationally, apply for industry awards for their London 2012 work and use their involvement in direct pitches and tender documentation when competing for international contracts.
Additionally, the licence will give businesses exclusive access to the Olympic Delivery Authority's (ODA) library of more than 5,000 photographs from the project, enabling them to market their involvement London 2012.
"I am delighted that those companies that played such a crucial role in making London 2012 an incredible success can now be rightly recognised," said Miller.
"By lifting these restrictions we will be able to maximise the economic benefits from the Games.
The relaxation of the rules affecting promotional activity by UK companies was a key recommendation of last summer's report by ODA chairman Sir John Armitt on how this country could maximise business benefits from the Games.
Sir John has welcomed the announcement.
"Businesses in Britain can now really build on the huge amount they have already achieved," he said
"UK firms won 98 per cent of more than £6 billion ($10 billion/€7 billion) worth of contracts to construct venues and infrastructure for the Games, helping their finances in a difficult economic climate, keeping workers in jobs, boosting skills and equipping firms to win lucrative contracts in the future, at home and abroad.
"This ground-breaking new scheme will let them make the most of London 2012 and their involvement."
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