Amendments to the Law on Movable Pledge in Commercial Transactions Numbered 6750
In accordance with the Law on the Amendment of Certain Laws for the Improvement of the Investment Environment numbered 7099 which was published in the Official Gazette on 10 March 2018 (“Law”), along with the regulations made in the Turkish Commercial Code, Tax Procedural Law, Social Security and General Health Insurance Law, Law on Municipal Revenues, Customs Law, there have been several changes made in the Law on Movable Pledge in Commercial Transactions numbered 6750with… »
Private Mergers and Acquisitions in Turkey
Corporate entities and acquisition methods 1. What are the main corporate entities commonly involved in private acquisitions? In private acquisitions the main companies used are joint stock companies and limited liability companies. 2. Are there any restrictions under corporate law on the transfer of shares in a private company? Are there any restrictions on acquisitions by foreign buyers? Restrictions on share transfer Under the Turkish Commercial Code numbered 6102 there… »
Precautions to be taken by Data Controllers While Processing Specially Qualified Personal Data
Principle decision of the Personal Data Protection Authority (“Authority”) outlining necessary precautions to be taken by data controllers while processing specially qualified personal data has been published on the Official Gazette on March 07, 2018. The decision is based on Article 6/4 of Turkish Personal Data Protection Law numbered 6698 (“Law”) which states that sufficient precautions defined by the Authority must be also taken into account while processing specially… »
Amendments within the context of Law on the Amendment of Certain Laws for the Improvement of the Investment Environment
Wide ranges of studies are being carried out for the improvement of investment environment. As to these studies, a new law called Law on the Amendment of Certain Laws for the Improvement of the Investment Environment numbered 7099 (the “Law”) has been published in the Official Gazette on 10.03.2018 in order to (i) support the investors, (ii) speed up the investment process and establishment process of a company, (iii) reduce the costs and (iv) boost the economy. There have… »
Examining the Implications of EPO Opposition Proceedings
Since Turkey became a member of the European Patent Convention (EPC), the question of whether Turkish validation and enforcement of a European patent applies while proceedings before the European Patent Office (EPO) are pending has become a hot topic. The owner of a European patent (EP) is normally concerned about how the pending opposition/appeal proceedings before the EPO will impact the enforceability or validity of the national patent in Turkey. The strength of a patent… »
Analysing Turkey’s Evolving Trade Mark Landscape
It has now been over a year since the entry into force of the long-awaited Industrial Property Code (the IP Code) in January 2017. While the IP Code replaced the decree-laws pertaining to the protection of trade marks, patents, geographical indications and industrial designs, by uniting them into a single code, it also introduced new provisions. This article aims to summarise the new provisions in general and analyse the issues surrounding the implementation of the major new… »
How to Evaluate Information Provided by a Whistleblower
Almost all whistleblowing reports are evaluated quickly due to the urgency of the matter. However, if an evaluation is completed without taking fundamental steps or necessary planning, it may result in an improper investigation and eventually the inability to resolve the issue, or even the undertaking of an unnecessary investigation. Evaluation of whistleblower reports The majority of whistleblowers are employees(1) and are generally more cooperative in comparison to… »
The Risks and Regulations Driving the Turkish Insurance Market’s Growth
The risks and regulations driving the Turkish insurance market’s growth NEED TO KNOW Nearly three-quarters of Turkish insurance companies have foreign owners or partners Penetration is low but government measures could increase it E-commerce growth and hacking attacks may push demand for cyber cover Emerging risks as well as new and upcoming regulations are driving the growth of the Turkish insurance market, explain Pelin Paysal and Ilgaz Önder, partner and associate at… »
Life Sciences Newsletter, February 2018
New Euro Fx rate for Drug Prices for 2018 Dicle Doğan and Fatma Sevde Tan, Gun + Partners In Turkey, the currency applied to drug prices is the Euro and Turkish lira currency exchange rate (Fx rate), which is determined by the Price Assessment Commission. As per the February 2017 Drug Pricing Decree, the Commission convenes within the first 45 days of each year to set a new Fx rate. The Fx rate is 70% of the average annual Euro rate. The Fx rate set in January 2017 was 2.3421… »
New Circular Improves Customs Protection of IP Rights; Number of Suspensions Increases Considerably
The official system for the protection of IP rights by Turkish Customs requires that a single application – for each and every IP right – be filed before the General Directorate of Customs in Ankara; the customs application covers importation and exportation, as well as transit trade and Turkish free zones. It is possible to file a customs application for any determined timeframe, with an upper limit of one year. Each application is processed within 30 working days; upon… »
An Overview of Legal Reforms in Turkey to Further Enhance Economic Development
Abstract Pelin Baysal, Partner and Cansu Akbiyikli, Senior Associate at Gun + Partners provide an overview of legal reforms in Turkey aimed at enhancing the country’s economic development. Analysis In recent years, the Turkish Government has been taking significant steps to continue enhancing the region’s economic environment including implementing a number of legislative developments. The Law Amending Certain Laws for Improvement of the Investment Environment, 6728 was… »
Criminal Liability of an Executive Under Turkish Law
During his/her professional life, a company executive operating in Turkey can face various types of criminal liability. This article aims to provide a general overview of the possible risks in relation to criminal law that an executive can come across. The picture is clear when an executive intentionally commits a crime to the detriment of the company that he/she is working for in order to obtain personal financial benefit. In such cases, the situation is more… »