Article 462 of the Turkish Commercial Code (TCC) regulates the method of increasing capital from internal resources, a vital tool in the capital increase processes of joint stock companies. This method allows companies to use existing resources to boost their capital. However, this process requires a detailed evaluation of legal regulations and careful consideration of practical challenges. Below are the key steps companies should follow and the critical points they need to consider when increasing capital from internal resources[…]
The European Union's comprehensive regulation on artificial intelligence systems, the AI Act, came into effect on August 1, 2024. The regulation applies not only to EU member states but also to companies providing services to EU citizens or conducting trade with the EU. For Turkish companies, this represents a significant opportunity to enhance their competitiveness and credibility in international markets. However, compliance with the AI Act requires more than legal obligations—it necessitates strategic and concrete steps[…]
The European Green Bond Standard (EU GBS) has emerged as a binding regulation established by the European Union to promote the use of financial instruments aligned with environmental objectives. This standard not only aims to enhance environmental sustainability but also provides a transparent framework that strengthens investor confidence. As part of the European Green Deal and Paris Agreement commitments, the EU GBS is a cornerstone of the EU’s roadmap toward achieving a climate-neutral economy[…]
The 2024 amendments to the Turkish Personal Data Protection Law (KVKK) have introduced significant updates to businesses' data processing practices. In particular, regulations concerning the processing of sensitive personal data, cross-border data transfers, and administrative fines have increased corporate obligations, ushering in a new compliance process that demands careful attention[…]
Cryptocurrencies have taken a central role in the global economy due to their impact on the digital transformation of the financial system. With the amendments to Law No. 7518 on Capital Markets and the additional regulations coming into effect in November 2024, Turkey has introduced a comprehensive legal framework for the sector. These regulations hold strategic importance for companies operating in both domestic and international markets[…]
The duty to mitigate damages is a fundamental legal principle that requires the injured party in a commercial contract to take reasonable measures to limit their losses. National and international regulations, such as the Turkish Code of Obligations (TCO), the CISG (United Nations Convention on Contracts for the International Sale of Goods), and the UNIDROIT Principles, define the scope and application of this obligation in detail. This article explains key considerations for parties in commercial contracts regarding the duty to mitigate damages and provides practical recommendations for effectively managing this process[…]