In “The Corner Office” we ask Managing Partners at law firms across Central and Eastern Europe about their backgrounds, strategies, and responsibilities. With a rough year drawing to a close, and market uncertainties running high, the question this time: If you had a million dollars, what would you invest it in today?

The obligation of e-commerce intermediary service providers and e-commerce service providers to obtain licenses from the Ministry of Commerce was introduced to our legal system with the “Law Amending the Law on the Regulation of Electronic Commerce" [available only in Turkish] published in the Official Gazette dated 7 July 2022, and thus has been amended by the Presidential Decree No. 6829 [available only in Turkish] published in the Official Gazette dated 23 February 2023 and numbered 32113.

Former Modanisa Head of Legal Compliance Senem Berkem Paflak has joined Goktekin Enerji as Head of Legal in Turkey.

Former Gunduz Legal Services Partner Okan Gunduz has joined Kolcuoglu Demirkan Kocakli as an Of Counsel.

Former DGPays Chief Legal Officer Merve Oney Barlas has joined TurkNet as Chief Legal and Compliance Officer.

Paksoy, working with Fieldfisher, has advised Samsun Yurt Savunma on its acquisition of an 80% stake in UK-based military defense equipment manufacturer AEI Systems. UK-based Field Law reportedly advised the sellers.

Following the EU, the UK is also trying to provide a safer environment for investors with regulations.

Commercial companies need capital to execute its business activities. Thus, paying the capital is regarded as the fundamental obligation of partners. In accordance with this, partners who do not pay their capital share on due date will be held liable accordingly to the private law in the context of TCC.
In addition to this, it is seen that this breach is sometimes interpreted as distribution of disguised profit through transfer pricing in the context of Corporate Tax Code (“CTC”).

Bagzibagli Erdem & Sahin has advised South Korea's Genoray Co on its acquisition of medical X-ray device supplier Ultra Medikal.

The Aksan Law Firm has advised portfolio manager Maxis and venture capital fund Founder One on their investment in UnoMoi.

Would you ever want to see digitally, Istanbul waking up to a rainy and gloomy day, an alien race that came to visit our species from a galaxy billion light year away, New York City under the post-apocalyptic acid rain, a peanut with a micro-scale civilization on it, the realistic portraits of people who actually never existed and no matter how far you go in the horizons of your imagination, a concrete and visual reflection of all your ideas?

Metaverse emerges as an "other universe" that invites the masses to live, interact, and trade in it. The parts of this universe are virtual reality, the internet, and advanced technologies. Users are no longer in front of the screen, they can enter this world in person. This can be possible in two ways for now; This world we call avatar requires a digital twin and virtual reality glasses. Users may think that they are chatting with their avatars, but can they feel like they are drinking coffee in a real environment? Are the two similar things?

The issue of how to ensure the longevity of family businesses remains as topical all over the world as it is in Turkey. When we look at the statistics, we see that family businesses have an extremely high percentage in Turkey as well as all over the world.

Turunc has advised Bogazici Ventures on its USD 200,000 investment in Nureply. Vircon Legal advised Nureply.

New thresholds triggering independent audit requirements for Turkish companies became applicable as of 1 January 2023. Below is a general overview of the applicable criteria.

The Capital Markets Board ("CMB") updated some amounts subject to revaluation within the scope of capital markets legislation for the year 2023 with the Capital Markets Board Bulletin dated 30/12/2022 and numbered 2022/74 published pursuant to its decision dated 29/12/2022 and numbered 77/1900.

Paksoy has advised Imerys on the sale of its 50% stake in JV Pergem to IPM Industries. Cim Hukuk reportedly advised IPM Industries.

The rapid developments in the world of technology put the law into a difficult concept puzzle to follow. While the discussions on smart contracts made with blockchain technology have not yet ended, a new organization that can direct the life of business has taken its place in the international market; Decentralized Autonomous Organization (DAO). This mechanism offers people new democratized ways to operate their organizations, radically separated traditional institutions.