Private Acquisitions 2020 in Turkey: Market Analysis
1. What are the current major trends in the private M&A market? In recent years, Turkey has enacted several laws designed to improve its investment environment. In 2012, the Turkish Commercial Code (TCC) and the Turkish Code of Obligations entered into force to replace their previous versions and create a transparent and sustainable commercial environment. In 2016, Turkey enacted the Law Amending Certain Laws for Improvement of the Investment Environment numbered 6728… »
COVID-19’s Impacts on Criminal Raids and Customs Suspensions Based on Trademark Infringement
1. Are there specific measures taken at the courthouses due to COVID-19? YES. The courthouses across the country are open and active – yet; As per the decisions of the Directorate of Administrative Affairs of the Presidency, the public employees – which covers judges, prosecutors and further courthouse personnel - who are pregnant, taking breastfeeding leave, disabled, over 60 years old (except managers), or those having a chronic disease, will be deemed on administrative… »
Private M&A 2020 in Turkey
Corporate entities and acquisition methods1. What are the main corporate entities commonly involved in private acquisitions?In private acquisitions the main companies used are joint stock companies and limited liability companies. 2. Are there any restrictions under corporate law on the transfer of shares in a private company? Are there any restrictions on acquisitions by foreign buyers?Restrictions on share transferUnder the Turkish Commercial Code numbered 6102 there are no… »
Distribution and Marketing of Drugs 2019 in Turkey
Distribution Pre-conditions for distribution 1. What are the legal pre-conditions for a drug to be distributed within the jurisdiction? Authorisation Under the Regulation on Licensing of Medicinal Products for Human Use (Official Gazette No. 25705 of 19 January 2005), no medicinal product for human use can be marketed unless it is licensed in Turkey. The licence is issued by the Medicines and Medical Devices Agency (Agency) of the Ministry of Health For placing the product on… »
Patents in Europe: Helping Business Compete in the Global Economy 2019/2020
Q: What options are open to a patent owner seeking to enforce its rights in your jurisdiction? Article 149 of the Industrial Property Code 6769 (IP Code) sets the legal framework for claims that can be asserted by the rights holder and the scope of the injunctions that can be granted by the court. Accordingly, a person can request the court to: determine whether the third party infringes the patent; decide on the prevention of the infringement; decide to stop the action that… »
Dispute Management 2019 in Turkey
1. Are foreign plaintiffs who wish to initiate legal proceedings in Turkey subject to any bond requirements? Pursuant to the International Private and Civil Procedure Law, foreign persons or legal entities who initiate or intervene in legal actions or initiate execution proceedings are required to deposit a guarantee to be determined by the court that will be used to bear the judicial expenses as well as to compensate the counterparty for any damages that may occur. However… »
Employee Incentives in Turkey
1. What kinds of incentive plan are most commonly offered and to whom? The most prevalent type of monetary incentive plan in Turkey is bonus paid monthly or annually. For most of the employees this bonus may be calculated as sales commission calculated upon good or services sold to customer or the employees may receive project bonuses from the work performed with their team. The highest ranked employees may also benefit from profit sharing. Some of the companies also… »
Guidelines for Investments in Real Estate in Turkey
I. Procedure of a real estate transaction 1. Could you give a short outline with regard to the formal procedure of a real estate transaction in your country starting from the signing of the purchase agreement (including the closing) until formal ownership vests in the purchaser? In Turkey, the main laws that govern real estate are the Turkish Civil Code (“Civil Code”), Turkish Code of Obligations (“TCO”) and Land Registry Law (the “Land Law”). The main stages and the required… »
Private Mergers and Acquisitions 2019 in Turkey
Corporate entities and acquisition methods 1. What are the main corporate entities commonly involved in private acquisitions? In private acquisitions the main companies used are joint stock companies and limited liability companies. 2. Are there any restrictions under corporate law on the transfer of shares in a private company? Are there any restrictions on acquisitions by foreign buyers? Restrictions on share transfer Under the Turkish Commercial Code numbered 6102 there… »
Telecoms and Media 2018 in Turkey
1. Regulatory and institutional structure Summarise the regulatory framework for the communications sector. Do any foreign ownership restrictions apply to communications services?The main legislation governing the communications sector is the Electronic Communications Law No. 5809 and dated 5 November 2008 (the ECL). The ECL provides the main principles regarding the authorisation of the operators, their obligations and the powers granted to the Information and Communication… »
Pharmaceutical Advertising 2018 in Turkey
General – Medicinal Products 1.1 What laws and codes of practice govern the advertising of medicinal products in your jurisdiction? In Turkey, advertising of medicines is governed by the Pharmaceutical and Medical Preparation Law No. 1262 (the Law No. 1262) and the Regulation on Promotional Activities of Medicinal Products for Human Use (the Promotion Regulation), which is based on the former. The Promotion Regulation is published on July 3, 2015 by replacing the… »
Anti-counterfeiting 2018 in Turkey
Turkey is a party to most international IP-related treaties, including the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs), which aims to harmonise the legal framework for anti-counterfeiting and anti-piracy. Turkey’s new IP Code entered into force on January 10 2017 upon its publication in the Official Gazette. The new law amends decree-laws pertaining to the protection of trademarks, patents, geographical indications and industrial designs… »