Directors’ and Officers Liability Insurance in View of the New Turkish Commercial Code (1)
Ι. Introduction and General Background The use of directors’ and officers’ (“D&O”) liability insurance is relatively new and limited in Turkey. The new and elevated standards on corporate governance rules introduced by the new Turkish Commercial Code {“the TCC”) such as the introduction of universal accounting and auditing standards and rules for increase of transparency is expected to support the operability of liability provisions and lead to increase in demand for… »
Well-Known Status of Earlier Marks Taken Into Account in Opposition Proceedings
In January 2011 SPA Fonksiyonel Gıda İçecek ve Turizm Yatırımları Ticaret İthalat İhracat Limited Şirketi filed an application for the registration of DIABLO ENERGY DRINK (and device) for all goods falling within Classes 29 and 32 of the Nice Classification: Red Bull GmbH filed an opposition against the application on the grounds that it was confusingly similar with the following RED BULL marks: Red Bull also argued that its trademarks are well known in Turkey. Red Bull… »
TPI Records UGG as Well-Known Trademark
The Turkish Patent Institute (TPI) has accepted Deckers Outdoor Corporation's application for the recordal of its UGG mark as a well-known trademark. Deckers had submitted comprehensive evidence to the TPI together with its application, including:registration certificates; affidavits; pictures of Ugg boots worn by celebrities; financial statements; documents evidencing raids conducted against infringers in Turkey; and a reasoned decision of the Fourth IP Court of Ankara… »
Turkey: The New Turkish Regulation For Foreign Satellite Broadcasters
Featured Article: The new Law on Principles of Radio and Television Broadcasts (the “RTUK Law”) entered into force in March 03, 2011 in Turkey and has been issued in accordance with the European Convention on Transfrontier Television. Some important changes in terms of broadcasting principles as well as broadcasting licenses are brought with the new RTUK Law. Namely, RTUK (the Supreme Council of Radio and Television) is now on the process of a new development affecting the… »
TPI Applies Wide Interpretation of Likelihood of Confusion Between Device Marks
In a recent decision involving Red Bull GmbH’s bull device, the Turkish Patent Institute (TPI) has interpreted the likelihood of confusion between two device marks in a wide sense. In March 2011 a trademark application was filed for a bull device in the name of an individual for “clothing, footwear and headgear” in Class 25 of the Nice Classification. Red Bull filed an opposition against the application on the grounds that it was confusingly similar to: its RED BULL and… »
Renewable Energy: Going Green
With the aim of meeting the country’s increasing demand for electricity, the Turkish government is devising alternatives to the heavy dependency on imported energy. As a country almost barren of oil and gas resources, Turkey’s focus for local energy generation has shifted to renewables and nuclear power. Dependence on expensive energy imports makes the Turkish economy vulnerable to continuously fluctuating oil and gas prices. That is why attracting investment into local… »
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… »