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…
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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…
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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…
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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…
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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…
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The smuggling police and customs enforcement officers take ex-officio action against smuggling offenses as per Anti-Smuggling Law no.5607, the basic purpose of which is fighting customs tax evasions. All smuggled products seized by such enforcement bodies are delivered to customs liquidation directorates for storage and sale.
In contrast, trade mark infringement is set forth in Industrial Property Law no.6769 as an offense being subject to a “criminal complaint” to be filed…
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Turkish Medicines and Medical Devices Agency becomes PIC/S memberDicle Doğan and Mert Özal, Gün + Partners
The Turkish Medicines and Medical Devices Agency published a press release (Turkish language) on its website, announcing that on 1 January 2018, the agency became an official member of the Pharmaceutical Inspection Co-operation Scheme (PIC/S). As a consequence of the approved membership, inspections made by the agency should now be acknowledged all around the globe. In…
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Decree No. 2018/11185 amending the Decree No. 32 on the Protection of the Value of the Turkish Currency and Communiqué No. 2018-32/46 amending the Communiqué on the Decree No. 32 on the Protection of the Value of the Turkish Currency were published in the Official Gazette No. 30312 on January 25, 2018.
The amendments made by the decree in full and Article 2 of the communiqué bringing amendments in line with the decree will enter into force on May 2, 2018, and the applicable…
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The Competition Board decided not to initiate an investigation concerning the Complaint of Emek Ecza Deposu for Abuse of Dominance by 15 Pharmaceutical Companies through Price Discrimination
Update: The Competition Board concluded the preliminary investigation initiated after annulment of its decision dated 21.04.2011 and numbered 11-25 / 470-141 by the 13th Chamber of Council of State and decided that the companies subject of the complaint did not conducted any abusive…
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The new Industrial Property Law entered into force on January 10 2017. It repealed and replaced decree-laws pertaining, among other things, to the protection of patent rights.
Decree-laws
Before the new law, decree-laws had set out clear provisions regarding use requirements, whereby patentees were obliged to use their patents within three years of its publication in the relevant bulletin. They had also set out clear provisions regarding evidence of use, whereby patentees…
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Double patenting is prohibited in Turkey under Article 21 of the Implementing Regulations to the European Patents Convention.
Under Article 21, if a European patent which designates Turkey and a national patent is granted to the same person, for the same subject matter and with the same application or priority date, the national patent lapses at the end of the opposition term set out in the European Patent Convention if:
the European patent is maintained as a result of…
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Turkey is now four months away from the deadline or fulfilling the compliance with the Data Protection Law, and in 2017 we were all busy with adopting the law as much as possible in the absence of well-established rules and practices, but in light of EU developments. It seems that our efforts will continue in 2018.
During 2017, fundamental steps were taken for the purpose of privacy after the enactment of the Data Protection Law in April 2016. The data protection authority…
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