Competition Law in Turkey
Competition law includes rules that are intended to protect the process of competition in order to maximize consumer welfare. Competition law has changed at a remarkable rate in recent years in response to the material changes in technology, politics and economics around the world and so within the local markets. Competition law is now applied to many economic activities and markets that once were regarded as natural monopolies or the preserve of the state: telecommunications, aviation, energy, food, transport, broadcasting and postal services.
In 1994, Turkey adopted a law on the Protection of Competition (“Competition Act”). The main goal of the Competition Act is the prohibition of cartels and other restrictions on competition, prevention of abuse of dominant position by a company which has dominance in a certain market and prevention of the creation of new monopolies by monitoring some merger and acquisition transactions.
In Turkey, competition policy is enforced by the Turkish Competition Authority. Since its establishment, the Turkish Competition Authority has decided cases in a variety of key economic sectors, including energy, telecommunications, vehicle distribution, consumer finance and banking services. The Competition Authority was established as per Article 20 of the Competition Act, in order to ensure the formation and development of markets for goods and services in a free and sound competitive environment, to observe the implementation of this Act, and to fulfill the duties assigned to it by the Act.
At Kesikli Law Firm we help clients achieve their business objectives while complying with rules and regulations of Turkish Competition Law.
Services we can provide include:
– advising clients on complex domestic and international antitrust/competition law issues, in the context of mergers, acquisitions, joint ventures, distribution agreements and licensing intellectual property,
– representing clients in antitrust/competition disputes before the Competition Board and Turkish Courts,
– helping clients draft corporate compliance procedures,
– reviewing proposed and executed agreements and other business arrangements as a pre-emptive measure to ensure compliance with the competition regulations,
– initiating and advising on complaint proceedings before the competition authorities in Turkey.