What is Article 50?

What is Article 50? 

Article 50 of the Treaty on European Union is a part of EU law that was signed by all EU states. It states that any country who wishes to exit the EU can do so. This article says that every country that decides to leave the EU, needs to notify the EU council and negotiate the withdrawal terms. Once Article 50 is triggered, there are two years to complete negotiations. If negotiations fail to reach agreement, the member state leaves with nothing.