The term ESG, an abbreviation of “environment,” “social,” and “governance,” was first introduced as a concept in 2004 in the United Nations report titled “Who Cares Wins” (WCW Report). “Who Cares Wins” originated as an initiative (WCW Initiative) launched in collaboration with the United Nations and the Swiss government, with the support of 23 financial […]
Transfer Rules for Employment Contracts Under A Share or An Asset Deal In Turkey
What happens to employees when a company is sold? Are employees automatically transferred to the new owner, or are they terminated? Do the same rules apply in the case of a share deal and an asset deal? These are all reasonable and predictable questions that potential buyers and sellers might ask. In this article, we […]
Artificial Intelligence-Based Services and Security of Company Data
While we talk about the many benefits of AI technology, we should not ignore the data protection and privacy concerns raised by services that use this technology. After all, artificial intelligence is a technology that feeds on the data provided by users and constantly trains itself. Chatbots, which are very popular nowadays, use the content […]
Joint Stock Companies Under Turkish Commercial Law
Joint stock companies (“JSC”) incorporated in Turkey are called “anonim şirket”/ “A.Ş.” and they are regulated by the Turkish Commercial Law. JSCs are companies with a liability limited to their assets. Incorporation A JSC can be incorporated with one or more shareholders, that can be either real persons or legal entities. Shareholders of a JSC are only liable […]
Voting Agreements
Joint stock companies have two governing bodies, namely the general assembly and the board of directors. While the general management of the company is under the responsibility of the board of directors; the general assembly on the has certain exclusive duties, which cannot be delegated to the board or another corporate body. Amendment of the […]
Disclosure Letter
Representation and warranties (“R&Ws”) constitute a large part of the share purchase agreements. R&Ws are given under several categories such as the material agreements of the company, employment, regulatory, loans and debts and litigation. Prior to the signing of the agreement each and every R&Ws must be reviewed and confirmed one by one. Otherwise, a […]
