Legal Interest Rate
According to Article 1 of the Law No. 3095 on Legal Interest and Default Interest (“Law No. 3095”), interests to be paid as per Turkish Code of Obligations and Turkish Commercial Code, shall be made at an annual rate of 12%, unless a different contractual rate is agreed. The president is authorized to adjust this rate on a monthly basis, and to reduce it by up to 10% or increase it up to one time.
The legal interest rate was 9% since January 1, 2006…
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Pharmaceuticals that are not authorized in Türkiye or authorized but not available on the market shall be procured from abroad as per a special authorization and on a case by case basis (Named Patient Program-NPP). This supply can be conducted by public institutions approved by the Ministry of Health that are defined as Foreign Pharmaceutical Suppliers (Suppliers) and currently constitute of the Social Security Institution and the Turkish Pharmacists Association. The…
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While the relevant article regulating the transfer of authority to examine the requests for revocation of trademarks to the Turkish Patent and Trademark Office (“the Office”) was not yet entered into force and there were still a level of uncertainty concerning the procedure, the first development in this regard took place on October 23, 2023 when the Office published and opened the “Draft Regulation for Amendment of the Regulation on the Implementation of the Industrial…
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Article 18/A of the Law No. 6325 on Mediation in Civil Disputes ("Mediation Law") stipulates that, should the mediation process end due to one of the party’s failure to attend the first meeting without a valid excuse, that party shall be liable for all litigation costs, regardless of whether they partially or fully succeed in the subsequent lawsuit. In addition to that, no attorney fee shall be awarded to such party. The Constitutional Court recently examined…
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Within the framework of the amendments to the Turkish Personal Data Protection Law (the “Law”), which will come into force on 1 June 2024, the draft regulation on cross-border data transfer was being expected and has now published by the Turkish Personal Data Protection Authority (the “DPA”) for commentary from public in general.
For consideration of data controllers and data processors, major issues set forth under the draft regulation are as follows:
Cross-Border Transfers…
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We love iconic movies, animated TV series, comics, cartoons, and platform games, and enjoy making them a part of our daily life, perhaps by drinking a cup of coffee with a mug bearing a Hogwarts logo or wearing pyjamas featuring Mickey Mouse. They are not just fictional works but also symbols with a cultural effect and commercial value. This often leads to unauthorised use of the titles and characters of these copyrighted works and any other associated signs, both at a…
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