Insights
New Energy Drinks Communique Prohibits Sale of Energy Drinks to Under 18s
On June 30 2017 the Ministry of Food, Agriculture and Livestock published the Food Codex Energy Drinks Communique 2017/4 in the Official Gazette (30110). The communique introduces significant amendments to the market supply, advertising, labelling and sale of energy drinks. The communique maintains the same component ratios for energy drinks as the abrogated communique. The supply and advertisement of energy drinks are prohibited in sports facilities, school cafeterias and… »
Competition Law Perspective on The Prohibition of Exports in the Supply of Pharmaceuticals
Update: Investigations open on Roche Müstahzarları San. A.Ş. upon 13th Chamber of the Council of State’s annulment of the Competition Board’s decision no. 10-44/785-262. I. Background The Competition Board (“the Board”) has had the chance to examine the clauses containing restrictions or prohibitions on exports in contracts for the supply of pharmaceuticals put in place by the supplying firms. The complaint filed by Co-Re-Na Pharmacy Warehouse (“Corena”) contained allegations… »
Analysis of the Company Laws – Turkey
International Trust Laws and Analysis, Company Laws, Wealth Management & Tax Planning Strategies provides all the legal, tax, and estate-planning intelligence necessary for professional advisers to recommend among financial centers for their high net wealth clients — as well as the tools to establish and operate trusts, companies, and funds in compliance with all applicable rules and regulations. The full text of the trust laws and links to the company laws of 60… »
Entry into force of new Regulation on the Implementation of the Industrial Property Code
Industrial Property Code The Industrial Property Code 6769, which abolishes previous IP-related decree-laws and unites all IP rights, including trademarks, patents, industrial designs, utility models, geographical indications and traditional product names, was published in the Official Gazette and entered into force on January 10 2017 (see “New IP Code enters into force: 2017 will be the year of IP rights”). According to provisional Article 2 of the Industrial Property Code… »
Injection of Capital Advance as a Recovery Method For Technical Bankruptcy Under The Turkish Commercial Code
According to the company statistics published by the Turkish Union of Chambers and Commodity Exchanges (TOBB), a total of 63,709 companies were incorporated in Turkey provided that 4,523 of these companies were incorporated with foreign capital only in 2016. However, due to certain reasons such as incorporation of the companies with the minimum capital required by the law, many companies may fall in the technical bankruptcy situation soon after their establishment. Although… »
Banking Law Amendment Provides Relief to Bank Officers and Company Executives
Introduction On February 9 2017 Decree-Law 687 was enacted by the Council of Ministers (based on its powers under the state of emergency). Among other things, the decree-law amends Banking Law 5411 by introducing a sub-paragraph into Article 160, which regulates the crime of embezzlement committed by bank officers. The new provision (Article 160/4) stipulates: “Loan allocation or extension; allocation of additional loans; instalment, securing or restructuring of loans which… »
How to Tackle with Data Protection Compliance Projects in Turkey
Following the enactment of the Law on the Protection of Personal Data numbered 6698 (“Data Protection Law”) on April 07, 2016, many organizations began reviewing their level of compliance with the Data Protection Law and initiate conducting compliance projects. Under the Data Protection Law, companies have a transition period of two years meaning that personal data that has been processed prior to the enactment of the law must be brought in compliance with the provisions of… »
Industrial Property Law Comes into Force in TURKEY
The long awaited Industrial Property Law (“The Law”), numbered 6769, finally came into force in Turkey on 10 January 2017. The new law regulates all IP rights in a single code. It consists of 193 articles and 6 provisional articles divided into five chapters. The first four Books of the law regulate trademarks, geographical indications, designs and patent rights respectively. The name of the Turkish Patent Institute has changed to the Turkish Patent and Trademark Authority… »
Industrial Property Law Comes Into Force
The long-awaited Industrial Property Law (6769) finally came into force in Turkey on January 10 2017. The new law regulates all IP rights in a single code. It consists of 193 articles and six provisional articles, divided into five chapters. The first four books of the law regulate trademarks, geographical indications, designs and patent rights, respectively, while the fifth book sets out common provisions valid for all IP rights. Article 188 of the law changes the name of… »
Executive Compensation & Employee Benefits, Turkey Chapter
1. Provide an overview of the primary sources of law, regulation and practice that govern or affect executive compensation arrangements or employee benefits. There is no specific source of law applicable in relation to executive compensation arrangements or employee benefits. Such arrangements or benefits for both executives and non-executive employees are mostly regulated under individual employment contracts or internal regulations. The benefits to be provided to… »
Accessing The Turkish Medical Devices Sector: A Promising Combination Of Opportunities and Challenges
As the fifteenth largest economy in the world and with a population of 80 million, Turkey presents an exciting opportunity for investment and development in the area of healthcare. In addition to a growing population which is covered by an extensive social healthcare system, Turkey has implemented a policy in recent years to capitalize on its reputation as a regional hub for healthcare tourism. However, despite the financial opportunities that are associated with the Turkish… »
Turkey: Compulsory Licensing in The Draft Ip Law
The draft Industrial Property Law in Turkey was passed by the main and sub commissions of the Science, Industry and Technology Ministry with minor amendments on May 5 2016. As shared in the issue of May 25 2016, one of the most debated issues was the international exhaustion principle, accepted for any kind of IP rights. Another much debated issue of the draft law is about compulsory licensing provisions in the patent part of the draft law. The Patent Decree Law in force also… »