Enforcement of Foreign Judgments 2024 in Turkey
Treaties Is your country party to any bilateral or multilateral treaties for the reciprocal recognition and enforcement of foreign judgments? What is the country’s approach to entering into these treaties, and what, if any, amendments or reservations has your country made to such treaties? Except for multilateral treaties on family law, Turkey is not a signatory to multilateral treaties for the reciprocal recognition and enforcement of foreign judgments. However, Turkey is a…»
The Insurance and Reinsurance Law Review, 11th Edition, Turkey Chapter
Introduction i Nature of the insurance and reinsurance market There are currently 72 active insurance companies incorporated in Turkey, consisting of 47 non-life insurers, 20 life and pension insurers and five reinsurers.2 The premiums collected in 2022 amounted to approximately 235 billion lira, an increase of 123.2 per cent compared with the previous year. Of this aggregate value, approximately 112.5 billion lira was derived from non-life insurers, whereas approximately 7.4…»
The Guide to Challenging and Enforcing Arbitration Awards in Turkey - Third Edition
1 Must an award take any particular form? Article 14(A) of the International Arbitration Law (IAL) provides that an award must include: • the names, surnames, titles and addresses of the parties, their representatives and lawyers;• the legal grounds on which the award is based and, if there is a claim for compensa-tion, the amount of compensation;• the place of arbitration and the date of the award;• the name, signature and a dissenting opinion, if any, of the arbitral…»
Corporate Governance in Turkey 2023
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? The 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…»
Insurance Litigation 2023 in Turkey
ForaIn what fora are insurance disputes litigated? In the Turkish judicial system, in principle, insurance disputes are resolved by the commercial courts, irrespective of the amount or value of the dispute. On the other hand, insurance disputes arising out of maritime law are heard by a specialised commercial court. Insurance disputes to which a consumer is a party are heard by consumer courts. If a province has no specialised or regular commercial court, disputes are heard…»
Litigation and Enforcement 2023 in Turkey
What are the main dispute resolution methods used to resolve large commercial disputes? The main and most commonly used method for resolving large commercial disputes in Turkey is litigation. Civil litigation is based on the principle that the parties to the dispute prepare their case. The judge is bound to hear claims, defences and evidence brought by the parties. However, the judge is entitled to make a legal assessment ex officio. The management of proceedings is at the…»
Arbitration Procedures and Practice 2023 in Turkey
How is commercial arbitration used and what are the recent trends? Use of Commercial Arbitration and Recent Trends In Turkey, arbitration traditionally evolved as a dispute resolution mechanism, which was used more frequently in large commercial disputes where a foreign party is involved and mostly when a legal counsel is involved in the preparation of the principal contract between the parties. For all other matters, particularly concerning disputes of smaller value…»
Corporate Governance and Directors Duties in Turkey Overview
The Q&A gives a high-level overview of corporate governance trends; the main forms of corporate entity used; the corporate governance legal framework; corporate social responsibility and reporting; board composition and restrictions; directors' remuneration; management rules and authority; directors' duties and liabilities; transactions with directors and conflicts; disclosure of information; shareholders' rights, company meetings, and minority shareholder action; and…»
Life Sciences 2023 in Turkey
How is healthcare in your jurisdiction organised? The healthcare system is governed principally by the Fundamental Law on Healthcare Services No. 3,359 and dated 15 May 1987, which furnishes the Ministry of Health (MoH) with the authority to issue healthcare-related regulations and establish a healthcare system enabling each and every person living in Turkey to have equal and equitable access to the healthcare system. The regulatory authority is the MoH and its…»
Employment and Employee Benefits 2022 in Turkey
1. Do the main laws that regulate the employment relationship apply to: Foreign nationals working in your jurisdiction? Nationals of your jurisdiction working abroad? Laws Applicable to Foreign Nationals Under Article 27 of the Act on Private International and Procedural Law No. 5718, employment contracts with a foreign element are subject to the governing law chosen by the parties, without prejudice to the minimum protection that employees are…»
Patents, Trade Marks, Copyright and Designs 2022 in Turkey
Provide a brief definition of a patent, the key legal requirements to obtain it and the law that applies. A patent is an industrial property right that gives the patent owner the right to prevent third parties from certain activities such as producing, using, selling, or importing the product or process that is the subject of the invention for a 20-year period. The applicant must prove the following to obtain a patent: Novelty. Inventive step. Industrial…»
IP in Business Transactions 2022 in Turkey
1. On what basis can the main IPRs be assigned? What formalities apply? Basis for patent assignment. Under the Intellectual Property Law No. 6769 (IP Law), a patent can be assigned in whole. A patent cannot be assigned in part. Formalities for patent assignment. Under the IP Law, a patent assignment must be in writing and signed by both parties and notarised before a notary public. Registration of a patent assignment with the Turkish Patent and Trademark Office (TPTO) is…»