What are the primary sources of law, regulation and practice relating to corporate governance? Is it mandatory for listed companies to comply with listing rules or do they apply on a ‘comply or explain’ basis?
he Turkish Commercial Code (TCC) dated 13 January 2011 (Law No. 6102) entered into force on 1 July 2012. The TCC has important objectives such as ensuring transparency, adopting corporate governance standards, and introducing internationally accepted auditing and report...»
The Guideline on Commercial Advertisement and Unfair Commercial Practices Conducted by Social Media Influencers (“Guideline”), which was adopted by Advertisement Board (“Board”) as per its decision numbered 2021/2 and dated 4 May 2021, is preliminary and substantial legislation regarding social media influencer’s advertising activities in Turkey.
While the Guideline is very recent in Turkey the Board imposed several sanctions on the social media influencers prior to the Guid...»
Sending a warning letter is not a pre-condition to enforce patent rights as per Turkish Law. However, considering it is a cost-effective and fast way to solve disputes, patent owners may choose to send warning letters to perceived infringers.
In 2014, a global pharmaceutical company filed a patent infringement action against a Gx company asking the IP Court to request and examine the related evidence; namely, the marketing authorisation dossier of the Gx drug filed before the...»
The first six months of 2021 have witnessed significant amendments to the legislation on the prevention of money laundering and financing of terrorism. In fact, this trend started by the end of 2020. The Law on the Prevention of the Financing of the Proliferation of Weapons of Mass Destruction No. 7262 was published in the Official Gazette on December 31, 2020, and introduced substantial changes to numerous legislation such as the Turkish Commercial Code, the Law on Cheques, ...»
The data of the Central Bank of the Republic of Turkey indicate that the private sector’s loan debt from abroad and short-term loan debt in general, excluding commercial loans, have reached a level that will cause economic uneasiness.
Due to economic fluctuations and the following pandemic, the financing needs of companies are increasing day by day. Companies may need to increase their capital in order to meet these financing needs, to evaluate their idle resources and to man...»
The Regulation on the Promotional Activities of Medicinal Products for Human Use (“Regulation”) defines the scientific and product promotion meetings and regulates how the marketing authorization holders can support or organize these activities. However, the Guidelines on the Application of Electronic Scientific Meetings and Product Promotion Meetings (“Guidelines”) which has been prepared taken into consideration the electronic scientific meetings and electronic product prom...»
The Ankara Regional Court of Appeal has recently reversed three first-instance decisions by relying on Article 353/1-a-6 of the Code of Civil Procedure No 6100 (CCP), which reads as follows:
Following a preliminary examination, the Regional Court of Appeal, without holding a hearing and as a final decision, shall send the file back to the court which rendered the original decision or another court in the same jurisdiction without examining the merits of the dispute in the fol...»
On 6 May 2021, the Turkish Medicines and Medical Devices Agency published an announcement (Turkish language) about the transfer of value notifications to be made regarding scientific and product promotion meetings that were postponed or cancelled due to the pandemic.
Turkish market authorisation holders must notify the Turkish Medicines and Medical Devices Agency regarding any transfer of value made to healthcare professionals or healthcare organisations (HCOs) exceeding the ...»
The Istanbul Civil Court for Intellectual and Industrial Rights (IP court) has granted an ex-parte preliminary injunction (PI) against a marketed generic product. As per the PI decision, the price of the original product has been reinstated and the generic product has been removed from the reimbursement list of the Social Security Institution (SSI).
Although the IP court issued the PI decision in a fairly short period of time, the patent holder's fight to protect i...»
The Turkish IP Law (6769) rules on acts that constitute patent infringement and acts that are excluded from patent protection. However, when it comes to evaluating whether clinical trials in Turkey should be excluded from patent rights, it is important to take the experimental use exemption under Article 85/3(b) and the Bolar exemption under Article 85/3(c) into consideration.
Unfortunately, this is easier said than done. There is no case law in Turkey that claries which acts...»
“The Guideline on Commercial Advertisement and Unfair Commercial Practices Conducted by Social Media Influencers” (“Guideline”), which was prepared based on Consumer Protection Law numbered 6502 (“Consumer Protection Law”) to serve as basis for commercial advertisements and unfair commercial practices run by Social Media Influencers has been enacted by Advertisement Board and entered into force as per its decision numbered 2021/2 and dated 4 May 2021. Pursuant to the Guidelin...»
Termination ban and unilateral unpaid leave came into force for the first time with the Law on Minimizing the Impacts of the New Coronavirus (COVID-19) Outbreak on Economic and Social Life and the Amendment of Certain Laws (7244) (“the Amendment Law”) published in the Official Gazette (31102) on 17 April 2020.
With the Amendment Law, termination of all employment contracts, regardless of being under the scope of the Turkish Labour Act or not, were prohibited for three months ...»