Introduction A letter of credit (LoC) is a widely used financial instrument in international trade that ensures payment to the seller, provided specific conditions outlined in the agreement are fulfilled. In Turkey, the operation of letters of credit is governed by Turkish Banking Law and international banking practices, particularly those outlined by the International Chamber […]
Introduction Free Trade Agreements (FTAs) play a vital role in facilitating regional economic integration by reducing or eliminating trade barriers between member countries. However, these regional agreements must align with World Trade Organization (WTO) rules to avoid disrupting the global trading system. This article explores the legal structure of FTAs, the challenges of ensuring WTO […]
Introduction In the modern global economy, intellectual property rights (IPR) are vital for fostering innovation, economic growth, and maintaining a competitive advantage. Patents, trademarks, copyrights, and trade secrets enable companies to protect their innovations across borders, yet the enforcement of these rights often leads to complex legal and diplomatic challenges in international trade. This article […]
Introduction Compulsory licensing allows governments to authorize the use of a patented product or process without the consent of the patent holder, typically for reasons related to public health, national emergencies, or anti-competitive practices. Although this mechanism ensures access to essential medicines, it raises concerns for foreign pharmaceutical companies that rely on patent protection for […]
Introduction The Digital Services Tax (DST) in Turkey is part of a global trend to address the taxation challenges posed by the digital economy. As technology companies deliver cross-border services without a physical presence, governments have introduced new frameworks to ensure they pay their fair share of taxes. Implemented in 2020, Turkey’s DST targets digital […]
Introduction Intellectual Property (IP) rights are essential for technology firms to safeguard their innovations and creative works. For foreign technology companies, maintaining robust patent and copyright protection in Turkey is critical to ensure market competitiveness and deter infringement. However, complex legal procedures, inconsistent enforcement, and administrative challenges pose significant hurdles for these companies. This article […]
Introduction In the pharmaceutical sector, patent rights play a vital role in protecting innovations and incentivizing research and development (R&D). For foreign pharmaceutical companies, securing patent protection is critical to maintaining market exclusivity and recouping investment in drug development. However, Turkey’s intellectual property framework presents several legal challenges that foreign companies must address to effectively […]
Introduction Turkey operates a reimbursement system that is a critical component of the healthcare sector, aimed at ensuring patients’ access to essential medicines through public funding mechanisms. The Social Security Institution (SGK) manages this system by negotiating prices and determining which medicines are covered. For foreign pharmaceutical companies, understanding and adapting to this framework is […]
Introduction Clinical trials are essential for the development of new drugs and medical treatments, enabling pharmaceutical companies to assess the safety and efficacy of their products. In Turkey, the legal framework governing clinical trials aims to align with international standards while ensuring the protection of public health and the rights of participants. However, foreign pharmaceutical […]
Introduction The pharmaceutical market in Turkey is tightly regulated to ensure the safety, efficacy, and quality of medications available to the public. Foreign pharmaceutical companies aiming to operate in this market must navigate complex licensing processes administered by the Turkish Medicines and Medical Devices Agency (TITCK). While these regulations aim to align with international standards, […]