The International Arbitration Review, Turkey Chapter, 7th Edition
I. INTRODUCTION The use of arbitration as an ADR method in Turkey is on the rise, especially for international disputes. There is also a growing demand for the use of domestic arbitration; however, domestic parties mostly prefer court litigation for cultural and financial reasons and because of the way the court and arbitration system is structured in Turkey. The establishment of the Istanbul Arbitration Centre (ISTAC), which aims to attract not only disputes involving… »
Recent Amendments to Stamp Tax Law in Turkey
Stamp tax in Turkey is only applicable to transactions that take place in within Turkish borders. In transactions where the deal volume is high, stamp tax can often be a hindrance since it can be a real burden on the parties. Stamp tax is regulated by the Stamp Tax Code (Numbered 488) and applies to a wide range of papers such as agreements, surety, guarantee and pledge documents, settlement letters or bills of lading. The term “paper” within the scope of Stamp Tax Code means… »
Descriptive, or Not Descriptive—That Is the Question: A Review Under Turkish Law of Likelihood of Confusion When Trademarks Share Descriptive Terms
I. INTRODUCTION In a landmark decision, Diamond Kuyumculuk Ticaret Limited Şirketi v. Med-Art Sağlık Hizmetleri ve Kuyumculuk Sanayi ve Limited Şirketi (the “BLUEDIAMOND decision”),¹ the General Assembly of the Civil Chambers of the Court of Appeals of Republic of Turkey found a likelihood of confusion between two trademarks, each covering, inter alia, jewelry and clock goods and design services, based only on the common use of the word “diamond,” which is inarguably… »
Turkey: What Will The New IP Code Bring?
On February 24 2016, the Ministry of Science, Industry and Technology circulated the draft IP Code on the website of Turkish Patent Institute (TPI). Having passed through various informal and formal consultation stages, the draft IP Code is now in its final enactment stage before the Turkish Parliament and expected to enter into force before the end of 2016. The draft IP code will replace the decree-laws pertaining to protection of trade marks, patents, geographical… »
Turkey’s Long Road To Become An Oil & Gas Hub
Turkey is on a journey toward becoming an oil and gas hub. But the country has to face geopolitical and financial challenges to achieve this goal, while it enjoys a perfect geographic location and has the necessary legislation; say Ozan Karaduman, managing associate of Istanbul-based law firm Gun and Partners, and associate Direnç Bada. Turkey is not a large producer of oil and natural gas resources. Its oil‒gas production is minimal when compared to its hydrocarbon-rich… »
Cross-Border Transfers and On-soil Requirements in Turkey
The Protection of Personal Data Law numbered 6698 (‘Law’) was enacted in Turkey on 7 April 2016, with detailed provisions relating to the protection of personal data. It defines ‘personal data’ as ‘any type of information that relates to an identified or identifiable natural person.’ The main principle is that personal data can only be transferred abroad once the data subject has provided explicit consent. However, there are certain exceptions, such as if the processing is… »