Turkey’s Expanding Islamic Bond Market
Banks using Islamic finance models in Turkey started their activities as early as 1984, although the sector witnessed a significant boost only recently, in line with the increase in the worldwide application of islamic finance transactions. Since 2005, these institutions have been referred to as participation banks, by virtue of the Turkish Bank Code (dated October 19 2005 and numbered 5411). As of May 2012, there are four participation banks either fully established, or… »
Marks with Same First Two Letters and Consonants Held to be Confusingly Similar
The Court of Appeal has upheld a decision of a first instance court in which the latter had ruled that the application for GUECCA, which covered goods and services in Classes 18, 25 and 35 of the Nice Classification, was confusingly similar to the well-known GUCCI marks. On October 17 2007 Mehmet Gedikli filed an application to register the mark GUECCA with the Turkish Patent Institute (TPI) in Classes 18, 25 and 35. Guccio Gucci Spa filed an opposition to the application on… »
Turkey: A Boost To Wind & Solar
Turkey has been active over the last year in molding its renewable energy market. Long discussed feed-in tariffs were increased with an amendment made to the Renewable Energy Law. The wind license applications which have been suspended since 2007 are issued. The EMRA issued a number of communiques one of which sets forth the on-site measurement obligations to obtain licenses for wind or solar power plant applicants. The Ministry of Energy solicited opinions from the market… »
Turkey: Love and Marriage
Turkey’s commercial environment will see significant changes starting summer 2012. The two main legislative documents regulating any form of commercial and contractual affair, the New Code of Obligations (Turkish Code of Obligations numbered 6098 and dated January 11 2011) and the New Commercial Code (Turkish Commercial Code numbered 6102 and dated January 13 2011), will replace the current legislation when they enter into force on July 1. Needless to say, the New Commercial… »
Imitation of Mark's Calligraphy Found to be Indication of Bad Faith
Turkish textile company AG Tekstil filed an opposition against the application for the registration of the trademark AG ADRIANO GOLDSCHMIED by Adriano Goldschmied LLC, the owner of the well-known trademark AG (and device). The opposition and appeal were rejected. Another action filed by Tekstil seeking the annulment of the Turkish Patent Institute’s Higher Board’s decision was also rejected, thereby allowing the registration of the trademark AG ADRIANO GOLDSCHMIED. During the… »
Turkey: What If It Leaks?
The Turkish Law Perspective On Third Party Civil Liability In Nuclear Accidents As Turkey embarks on the path to becoming a nuclear energy nation with the start of the pre-construction preparations of the nuclear power plant in Akkuyu, Mersin by the Russian Rosatom1, the discussions on safety related issues are far from settled. The debate once again flared up in the wake of the unfortunate radiation leak on the Fukushima nuclear power plant following the devastating… »