Regulatory Update in Turkey: Prolonged Exclusion of Specific Losses in Capital and Equity Assessments
The Communiqué on the Procedures and Principles Regarding Implementation of Article 376 of the Turkish Commercial Code No. 6102 ("Implementation Communiqué") was amended on December 26, 2020, and it was regulated that certain loss items will not be considered in the calculations made in terms of capital loss or negative equity until January 1, 2023. Although the Ministry of Trade indicated in its statements on various occasions that this exception was introduced as a… »
PTO Prepares for Administrative Revocation of Trademarks
Article 26 of the Industrial Property Code, which grants the PTO the authority to revoke trademarks, will come into force on 10 January 2024 The PTO has recently released a draft regulation for comment The draft regulation includes procedural details on how revocation requests will be made before the PTO Background The Industrial Property Code No 6769 (IP Code), which entered into force on 10 January 2017, provides that the Turkish Patent and Trademark Office (PTO) has… »
Is Alternative Dispute Resolution Effective Enough for “.tr” Domain Names?
This article discusses the alternative dispute resolution mechanism for ".tr" domain names in Türkiye. It highlights the efficiency of the alternative dispute resolution mechanism and addresses some concerns over the transparency of proceedings. TRABIS (".tr" Network Information System), established by the Turkish Information and Communication Technologies Authority ("BTK"), became operational on September 14, 2022 and undertook the management of ".tr" domain names. Upon… »
A Practical Overview of Disclosure of Trade Secret as a Criminal Offense
Trade secrets bear critical value for companies to stand out and become distinct from their competitors in the competitive market conditions. Indeed, companies are often exposed to significant risks arising from the disclosure of trade secrets due to misconduct of certain individuals having access to these secrets. Therefore, confidentiality of these secrets, which bear commercial value and provide a competitive advantage, is almost crucial for companies to survive. In this… »
Minority Shareholders' Rights in Joint Stock Companies
In order to prevent the majority shareholders, who hold the superiority of capital and voting in the management of joint stock companies, from executing unfair and unjust acts against the minority shareholders and violating the rights of the minority shareholders, the legislator has granted some special rights to the minority shareholders and allowed them to protect their interests against the decisions taken with the influence of the majority. Thus, the balance of interests… »
Guideline on Scientific Meetings on Medical Devices Updated
On 22 August 2023, the Turkish Medicines and Medical Devices Agency (Agency) announced an updated Guideline on Scientific Meetings and Educational Activities to be Held in Accordance with the Regulation on Sales, Advertising and Promotion of Medical Devices (Turkish language) (Guideline) on its official website. The Guideline replaced the previous version dated 15 November 2022. The Guideline was updated shortly after the revision made to the Regulation on Sales, Advertising… »