International Commercial

International Commercial - Turkey

posted 11 months ago

Author

İzzet Gürler

Firm:Kurt and Partners Law Office
Country:Turkey
Practice Area:Commercial

1. Please summarise the work your firm does and the ways in which you distinguish yourself in the provision of commercial law advice.

At our law firm, we take a collaborative approach to our work, partnering with our clients to understand their business objectives, changing needs, sector or industry, and position in the market. We view ourselves as an integral member of our clients’ team, providing them with tailored and pragmatic advice that is grounded in our extensive legal experience and multidisciplinary expertise.

As a full-service law firm, we are equipped to handle a wide range of local and international commercial law requirements, and our clients often engage us as a one-stop shop provider for all of their legal needs. Our goal is to build long-term relationships with our clients, and we work hard to provide them with the highest quality legal services that are responsive to their evolving business needs.

Our law firm prides itself on its size and lean organisational structure, which enables us to provide added value to our clients while avoiding wastage of resources. We prioritise efficiency, quality, and value creation in all engagements. In this regard, we are adaptable to the client’s business model, comprehending their needs and offering the best solutions possible. Our clients value us for our business-solution oriented approach, extensive experience, and unwavering commitment to delivering high-quality advice and exceptional service. As evidenced by our longstanding client relationships and referrals, we are dedicated to maintaining our reputation for excellence. We are an independent law firm with a strong global presence thanks to our partnerships with other firms from various jurisdictions. This allows us to provide our clients with comprehensive and reliable legal solutions from a single source, regardless of where their business takes them. By working with trusted partners around the world, we are able to ensure that our clients receive the highest quality of service and legal advice, no matter where they operate.

2. What does your current workflow look like – and what are some of the various commercial law issues clients are bringing to your attention presently? If possible, please provide a recent case study.

We are proud to share that that our firm takes a proactive approach to our client service by acting as a business partner and being involved from the beginning of a project. It’s important for clients to have a clear understanding of the legal consequences of their decisions, and having a legal partner like our firm to provide guidance and evaluate risks can be invaluable. By taking a seat on their boards of directors or executive boards of client companies, our firm can provide a deeper level of insight into the client’s operations and decision-making processes. This approach can lead to more effective and tailored legal solutions that are specific to the client’s needs and objectives. Having a deep understanding of our clients and their industries is crucial for providing effective legal solutions that meet their specific needs and objectives. It allows our firm to provide tailored advice that takes into account the unique characteristics and challenges of each client’s business. By taking a business-oriented approach, our firm can provide legal solutions that not only meet legal requirements but also contribute to the overall success of the client’s business. This approach can help build long-lasting relationships with clients and enhance our reputation as a trusted legal partner. It’s also important to have a comprehensive understanding of the tax implications of any project or investment, and our firm recognises this. It’s also important to note that in many jurisdictions, including Türkiye, there are strict regulations around who can provide tax advice. Our firm is aware of these regulations and has established partnerships with trusted tax professionals to provide clients with the most effective tax solutions. This collaborative approach can help ensure that clients receive the best possible advice and solutions for their specific tax needs.

3. What are the most significant commercial projects that you have advised on in the last 12 months?

Commercial and Corporate are core practice areas for our law firm, wherein we have acquired extensive expertise by virtue of operating within these areas for many years. Our firm offers diverse services encompassing a broad spectrum of activities, ranging from the preliminary formation of partnerships to facilitating M&A transactions, establishing Joint Venture structures to spin-offs. In this regard, we are pleased to present a selection of projects that we have successfully undertaken in the past 12 months across various sectors, as illustrated below:

The Health Sector is one of the fastest growing sectors in Türkiye in last decade. After the depreciation of the Turkish Lira, the presence of well-trained personnel and very well-established health institutions has made Türkiye a hub of attraction in this sense recently. As a result, there has been an increase in the number of investors who want to invest in this field locally and internationally. As in many countries around the world, the health sector is a sector with very strict regulations and to invest in this field, a legal structure must be established properly in accordance with these regulations since there are also some restrictions. In particular, the determination of the partnership structures in the investment processes of the investors, including foreign investors has been included in the projects completed recently.

An example for assisting the client who provides visa services to consulates for investing outside of Turkiye is providing legal service together with local law offices, in the establishment of companies suitable for local requirements in different countries, from Central Asia to Africa and the Balkans, and to enter tenders. Our law firm made the required organisation and coordination with the local law firms.

The last example is from another popular sector. As it is known, Turkiye has become one of the important players in the game market. Especially after Zynga’s acquisition of Rollic Games in 2020, a great increase was seen in investments and start-ups in the field of gaming. In this context, the establishment of start-up companies for game development, determining their partnership structures to receive investment, and the completion of two investment rounds by arranging the relations between investors and founding partners are one of our important projects that we have been serving in the last period.

4. What are the key recent developments affecting doing business in your jurisdiction?

After the war between Russia and Ukraine, which started on February 24, 2023, Turkey is one of the countries where those fleeing the war from both Russia and Ukraine took refuge. Naturally, they became a part of commercial life and began to engage in commercial activities. International sanctions and the regulation of commercial activities accordingly have become one of the most important developments in the last period.

5. What challenges do businesses commonly face when adapting to technological change? How do you assist companies to overcome these challenges?

As technology is having a significant impact on the legal industry, both in terms of how legal services are delivered and how legal regulations are being developed and enforced, by staying up to date with technological innovations and their impact on legal practices, our law firm can adapt and evolve to better meet the needs of our clients.

Some of the technological trends that are currently shaping the legal industry include artificial intelligence, blockchain, and cloud computing. These technologies are transforming the way legal research is conducted, contracts are drafted and managed, and legal processes are automated.

By closely evaluating legal aspects related to these technologies and keeping up with their impact on legal regulations, our law firm can better serve its clients and stay ahead of the curve. This can involve developing new service offerings, building specialised expertise, or partnering with technology providers to deliver more efficient and effective legal services.

In Türkiye, people especially young generations are adapting to technology quickly and effectively. Therefore, the country has a strong and growing tech sector, and the government has been investing heavily in technology infrastructure and education to support its growth.

As a law firm it’s important for us to provide support to our clients as they navigate the legal and regulatory challenges that come with adopting new technologies. This could include providing legal advice on issues related to data privacy, intellectual property, cybersecurity, and regulatory compliance.

In addition to providing legal support, our law firm can also play a role in helping to shape the regulatory environment for technology companies in Türkiye. By engaging with policy makers and advocating for policies that support innovation and growth, we can help create a more favourable environment for our clients and other technology companies.

6. Cyber security is of increasing concern for all businesses worldwide. Are there any sectors that are particularly at risk? How can you help businesses in these sectors mitigate this?

In today’s fast-paced world, everything is evolving at an incredible speed, and legal requirements and services are no exception. The growth of Information and Technology has become a significant aspect of both legal and industrial sectors. Consequently, technology law, data privacy, and protection have become some of the primary concerns. Our law firm recognises the importance of these issues and has extensive experience and expertise in IT Law, Cyber Security, and Data Protection. We are committed to keeping up with the latest developments in these areas to provide our clients with the most effective and efficient legal solutions. In addition to our experienced lawyers, our team also includes engineers who bring added value to our services. Our engineers enable us to communicate effectively with IT professionals, understand our clients’ requirements, and provide the most valuable and appropriate legal solutions and risk management strategies. Their expertise and technical knowledge allow us to provide customised solutions tailored to our clients’ specific needs. By combining legal and technical expertise, we offer a unique and comprehensive approach to addressing the legal challenges faced by businesses in the technology industry.

When it comes to digitalisation and cybersecurity becoming increasingly important, e-commerce has become a crucial aspect of the retail industry. E-commerce companies, especially startups, are particularly vulnerable to cyber-attacks due to the vast amount of data they handle and inadequate protection measures. Our law firm recognises the importance of cybersecurity and has a team of engineers and lawyers specialising in IT Law and Cyber Security to provide our clients with comprehensive legal and technical assistance. We assist our clients in establishing proper structures, both legally and technically, to protect themselves against cyber-attacks, identify potential risks, and manage those risks effectively.

Our primary goal is to ensure that our clients comply with data protection regulations and privacy requirements. To achieve this, we work closely with our clients to help them understand the legal and technical requirements of data protection and privacy regulations. We then assist our clients in implementing the necessary technical measures to meet those requirements, as directed by law. In addition, we provide guidance on how to manage potential cybersecurity threats, including incident response planning and mitigation strategies. Our comprehensive approach helps our clients to minimise the risks associated with cybersecurity incidents and ensure that they are fully prepared to address any potential threats that may arise.

7. Have you seen an increased focus on environmental, social and governance (ESG) issues? How can your firm assist companies looking to align their strategy with these issues?

“ESG” is a very topical subject in Turkey, and “Green Finance” is a topic that we see frequently. From a legal perspective, there are numerous legal regulations and laws in place governing various aspects of this subject. Nevertheless, with the recent emergence of regulations and compliance requirements from the EU, companies conducting international business have now begun including this topic in their agendas and compliance plans.

As a law firm, we have extensive experience in compliance and closely monitor international developments and regulations in this field. We are proud to share that one of our senior lawyers is currently pursuing graduate education in Canada specifically on this subject.

With this expertise and our commitment to staying up-to-date with the latest developments in the field, we are currently in the process of developing a comprehensive compliance program for our clients.

8. How do you ensure a well-informed advisory scope, in terms of policy updates and changing investment options, for clients who are based in other jurisdictions or have operations based overseas? For example, are you especially active in network events such as conferences, wherein information is exchanged among member firms?

At our law firm, we maintain a close watch on the constantly evolving landscape of international commercial affairs and legal developments. This is not merely a desire to stay current, but rather a crucial necessity in meeting the needs of our clients who operate within the international arena.

We maintain strong connections with international law firms, as we are the sole member from Türkiye of a network comprised of independent law firms from 46 countries called Interlegal. As a member of this network, we regularly exchange information with other members through various means, including newsletters.

These connections enable us to stay informed about the latest legal developments and best practices in the international arena, which we leverage to provide optimal solutions and services to our clients.

Furthermore, we actively participate in international meetings related to the sectors and topics within our practice. We also organise meetings for relevant parties to keep them updated on the latest developments. For instance, last year, we collaborated with one of our German colleagues to host an online meeting for the automotive sector, where we provided information about the German Supply Chain Compliance Law and its impact on Turkish companies. This webinar was very successful, with over 100 people from leading local and international spare parts producers in Turkey actively participating in the event.

We are pleased to announce that we will be hosting the members of Interlegal in Istanbul for the General Assembly Meeting in May 2023. This meeting will provide an excellent opportunity for us to network with our colleagues from other member firms and share insights and best practices related to our areas of practice.

9. Is there anything else that you would like to add?

It is important to note that general elections for the presidency will take place in Türkiye in May 2023. Many investors are keen to see the election results before making any investment decisions. However, regardless of the election outcome, Turkiye will continue to be an attractive country for investment due to its strategic location, young and dynamic population, and growing economy. We believe that Türkiye’s strong economic fundamentals and favourable investment climate will continue to make it an appealing destination for investors in the long term.

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