The Entry Strategy and Key Issues to Consider When Establishing Operations in Turkey
Foreign investment has been considered as an important driving force of stable economic growth in the last few decades in Turkey. Especially in the last ten years, we have seen a considerable increase in the foreign investment in Turkey through large or medium sized M&A deals, joint ventures of Turkish and foreign investors and start-up foreign investments in all sizes and in various sectors. Although total foreign direct investment inflows to Turkey prior to 2003 were… »
Turkey: 2014 Changes to Turkish Internet Law
With approximately 40 million broadband internet subscribers, the increasing prevalence of smart devices and the significantly high young population in Turkey; intensive use of the Internet, social media and e-commerce is rising each day. The increase of Internet usage through new technologies in both social life and commercial life also introduces discussions on the scope of freedom of speech, protection of private life, freedom of communication rights and a secure… »
Graft probe and OECD Foreign Bribery Report
Introduction International Anti-corruption Day, on December 9 each year, aims to raise awareness of corruption and its destructive impact on society. In 2014 it was celebrated with the publication of the first-ever Foreign Bribery Report by the Organisation for Economic Cooperation and Development (OECD). The report is an important international initiative in the fight against corruption. It examines 427 bribery cases concluded in member countries in the 15 years since the… »
Turkish Delights? Choosing the Most Effective Corporate Structure for Investing in the Turkish Market
When investing in the Turkish market investors should consider the legal procedures for terminating their business activities in advance, should a clean exit be required. A straightforward winding-up procedure will take at least a year. If the company’s assets do not cover the debts, the shareholders and the managers will be personally liable from their own assets. The Tax Procedure Law introduces an aggravated liability regime for LLC shareholders and holds them liable in… »
Constitutional Court: IP Rights to be Regulated by Law
The director of the Turkish Patent Institute recently gave a speech on the draft Patent Law, which amends certain clauses of the existing Patent Decree-Law. He stated that the aim of the draft patent law is to enable Turkey to develop its own pharmaceutical patents, to reduce dependence on imports and to harmonise national law with international agreements. While the draft Patent Law is still pending on Parliament’s agenda, the Constitutional Court recently handed down a… »
Pharmaceutical Advertising 2015, Turkey Chapter
1 General – Medicinal Products 1.1 What laws and codes of practice govern the advertising of medicinal products in Turkey? 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 was published on August 26, 2011, came into effect on December 31… »