Privacy Issues in M&A Transactions in Turkey
Among other things, privacy issues in mergers and acquisitions now attract the attention of transaction parties. Privacy risks/issues in mergers and acquisitions used to be overlooked or underestimated. However, these days, conducting adequate due diligence on privacy issues and mitigating risks associated with a target’s privacy-related liabilities, as well as requesting privacy-related representations and warranties, are common in merger and acquisition transactions. The… »
Ex Parte Injunctions in Turkish IP Law
Although they are legally available, ex parte injunctions are quite rare in Turkish IP practice. The IP courts almost always reject requests for ex parte injunctions, preferring to evaluate the alleged infringement only after hearing both parties. However, in a recent case, the IP Court unexpectedly granted a request for an ex parte injunction, due to the urgent nature of the matter. The request for an ex parte injunction was filed against a company in Argentina. The company… »
Turkish Government Introduces Restrictions on use of Trademarks on Tobacco Products
Law Amending Some Laws and Decree-Laws Related to Health No 7151 entered into force on 15 November 2018 Under Article 24, tobacco goods produced in, or imported into, Turkey shall be offered for sale using plain and standardised packaging Issues surrounding plain and standardised packaging to be addressed by Ministry of Agriculture and Forestry regulation The control of tobacco consumption has been one of the top priorities of the Turkish government, and several measures… »
2019 Legislative Predictions for Turkey
Apart from an economic slow-down, one can say that 2018 has been productive and looked promising for Turkey from a privacy perspective. We have seen considerable efforts and attempts from the data protection authority, as it has been active in meeting with the practitioners, academics, organizing trainings and seminars, and issuing new guidelines, and regulations. We have seen more data breach decisions rendered by the DPA and these shed a light to the practice and claims… »
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… »
Certificate of Competence for Product Promotion Representatives
Dicle Doğan and Fatma Sevde Tan, Gun + Partners Article 10 of the Regulation on Promotional Activities of Medicinal Products for Human Use states that the Turkish Medicines and Medical Devices Agency shall issue a certificate of competence to the following individuals: Graduates of universities that educate product promotion representatives, upon submission of their diploma to the agency. Graduates from a school of higher education who have succeeded in a specified… »
Mandatory Mediation for Commercial Receivables
Mediation has become a must in commercial receivables actions and to this end some provisions of Turkish Commercial Code (“TCC”) and Code of Mediation in Civil Disputes have been amended within the scope of Code of Commencement of Execution Proceedings in Monetary Receivables Arising from Subscription Agreements (the “Code”) which became effective by being published in Official Gazette dated 19 December 2018 and numbered 30630. In this regard; By incorporating Article… »
Composition with Creditors
It is no secret that the Turkish economy has been suffering from a few problems. As is usually the case for all economies under distress, various Turkish businesses have been in dire straits. The depreciation in Turkish lira and inflation, together with other factors, put a lot of pressure on the Turkish economy. Various companies in Turkey started to have problems in making their payments in due time. A number of these companies applied for the procedure of composition with… »
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… »
Obligation to Apply for and Obtain Marketing Authorization is Regulated for the Drugs Supplied from Abroad on a Named Patient Basis
The Omnibus Act Amending Some Laws and Decree-Laws related to Health (“the Act”) is published on the Official Gazette dated 5 December 2018 and numbered 30616. Article 1, 2, 3 and 4 of the Act amended the Law on Commercial Pharmaceutical Warehouses and Shops that Sell Poisonous Chemical Substances Used in Arts and Agriculture (“Law on Warehouses”) numbered 984, Article 8 of the Act amended the Pharmaceuticals and Medical Preparations Law numbered 1262 and Article numbered 31… »
What Can Big Data Offer to Insurers and Insureds?
Insurance market has been heavily relying on its conventional tools of risk assessment. This is now under the transformative and disruptive impact of technology. In particular, big data -i.e. large volumes of data sets that are hard to process using traditional data processing methods (“Big Data”) – are claimed to have the potential to replace the conventional tools of risk assessment by their more efficacious equivalents. The provisions of insurance under Turkish Commercial… »
Document Production in International Arbitration: The Good or the Evil?
Document production is one of the most important and controversial topics in international arbitration. Some practitioners consider the document production as “an essential element of justice”, whereas some others consider it as “a waste of time and money”. So, where does the truth lie? Does Common Law Provide Better Justice than Civil Law or Vice Versa? In common law countries, the rationale for discovery suggests that justice can only be established if both sides have… »