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Obligations of Board of Directors Members - II 14 January 2020
TYPES OF LIABILITIES OF THE BOARD OF DIRECTORS MEMBERS The liabilities of the Board of Directors members can be categorized into three groups as indicated below.
Legal Liability According to the Turkish Commercial Code (“TCC”), the liabilities of the Board of Directors members may arise, inter alia, due to:
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Obligations of Board of Directors Members - I 10 January 2020
Company Management All Board of Directors members must participate in the activities regarding the management of the company, which are either stated in the Articles of Association (“AoA”) or embodied in the related laws, unless such related powers have been transferred as explained below.
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What is Source Code? How is Source Code Transferred? 25 December 2019
Under article 2/1 of the Law on Intellectual and Artistic Works (“LIAW”), computer programs, are considered as scientific and literary works. Since computer software has characteristics of works that are subject of intellectual property, they are protected by copyrights.
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Conditions For Processing Of Personal Data Of Special Nature 20 December 2019
Conditions For Processing Of Personal Data Of Special Nature
Personal Data of Special Nature (Sensitive Data) Personal data is all the information relating to an identified or identifiable natural person. Personal data of special nature is different and privileged than other personal data since it can be subject to victimization and discrimination therefore it is needed strict protection.
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What Is Provisional Registration Within the Frame of Commercial Code and In Which Situations Provisional Registration Is Made? 18 December 2019
It is important for persons concerned with registration to know how the trade registry manager will establish a transaction after the application for registration to the Trade Registry, since persons shall follow a method in accordance with the registry manager’s transaction. The registry manager shall investigate the existence of legal conditions in subject to be registered, the conformity of the subject to the public order and the mandatory provisions, the identity/authority of the person requesting the registration and the authenticity of the subject to be registered. As a result of this examination, the registry manager may comply with the request and make a positive decision or may make a negative decision and reject the request. Apart from the positive or negative decisions of the re...
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Amendments in Accordance with the Law on Amendment of the Land Registry Law and Certain Other Laws 16 December 2019
The Law on Amendment of the Land Registry Law and Certain Other Laws (“Law”) entered into force by being published in the Official Gazette dated 10.07.2019 Amendments pursuant to the Law are as below:
Amendments Regarding Land Registry
In contracts aiming the transfer of real property, if the parties are present at the different directorate of land registry offices in Turkey and abroad, the contract can be concluded by the officials via deriving the will of parties separately. A notification indicating the reasons of the fault and the share status after the correction will be made to the owners and third party right holders who are adversely affected by the fault arising from the cadaster or land registry transactions. If the concerned parties give their consent within 30 days following ...
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Seizing the Shares of Limited or Joint-Stock Company Shareholders due to Their Personal Debts 13 December 2019
The shares at companies with share capital are considered as seizable since they have an economical value. Therefore, it is possible for the personal creditors of the shareholders to commence an execution proceeding through general tax lien or foreclosure.
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Workplace Practices in Turkish Laws 11 December 2019
Work place practice can be defined as an unwritten agreement which has become a contractual provision upon implied or explicit acceptance of a unilateral labor interest granted by employer continuously and under same terms, without any contractual or legal obligation. Monetary supports and payments in kind such as bonuses, premiums, food, fuel and road supports can be considered as work place practice, unless already provided under the employment contract or the internal regulation of the work place.
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Can the Debtor Claim Plea of the Jurisdiction at Action for Annulment of Objection Although He/She Does not Object to Execution Office’s Jurisdiction? 6 December 2019
Execution Office’s jurisdiction at prosecutions to be held respecting money and warranty receivables is regulated at Bankruptcy and Enforcement Law (“Law”) Article 50 as “Code of Civil Procedure’s provisions should be applied mutatis mutandis for money or warranty debt about prosecution. In so far as the execution office where the contract is concluded which forms a basis to prosecution is also authorized.” Therefore, with the reference of Article 50 in proceedings without judgment to be held, general competent court is debtor’s settlement execution office at the time the prosecution was commenced according to Code of Civil Procedure (“CCP”)
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Lithuania Startup Visa 4 December 2019
This type of visa is specifically planned to select sustainable businesses in the field of technology. Business plans are evaluated by a group of business experts as well as immigration office officials. As this visa program is designed to attract investments in the fields of technology, biotechnology, information technology, mechatronics and laser technologies in Lithuania, only trade and service based business offers will be rejected. Business plans of the applicants will be evaluated based on innovation, sustainability, scalability and other criteria. In addition, investors can bring their families with them from the beginning.
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