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…
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Introduction
The Ministry of Justice recently prepared a new draft Law on Labour Courts and shared it with the relevant public institutions and organisations for review.
The principle of employment cases is to conduct litigation in a timely manner. However, in practice, the labour courts’ heavy workload obstructs this principle and employment cases take a considerable amount of time. The draft law aims to ease the judiciary’s workload in this regard and accelerate the…
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Turkey began this year with a new law regulating and effecting almost all intellectual property rights, unifying them into a single code. This Industrial Property Code number 6967 (“the IP Code”) came into force on 10 January 2017.
The IP Code replaces the Decree Laws which regulated the protection of trademarks, patents, geographical indications and industrial designs. Turkey has a long tradition of protecting intellectual property rights and is signatory to almost all the…
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Turkey is not a large producer of oil and natural gas resources. Its oil and gas production is minimal when compared to its hydrocarbon-rich neighbours such as Azerbaijan, Russia, Iraq, and Iran. Yet, it still has a specific advantage: it is located between these oil-rich countries and the highly industrialised and developed western economies, which are large oil and natural gas consumers.
Currently, crude oil and natural gas are carried via land pipelines to Turkey from…
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Turkey became a signatory to the European Patent Convention (EPC) on November 1 2000. The enactment of the Law on Joining the European Patent Convention on the Grant of European Patents and Its Protocols (4054) brought the EPC provisions into force in Turkey. Accordingly, the EPC is directly applicable to European patents validated in Turkey. However, few of the EPC provisions bind the national courts. For example, Article 138/3 gives a European patent owner the right to…
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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…
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