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Gönenç Gürkaynak, founding partner

ELIG Gürkaynak Attorneys-at-Law founding partner, Gönenç Gürkaynak, offers his thoughts on providing added value to clients, positive investments in technology and what the future may look like for this thriving Turkish law firm.

What do you see as the main points that differentiate ELIG Gürkaynak Attorneys-at-Law from your competitors?

ELIG Gürkaynak Attorneys-at-Law was established in 2005 and we have quickly earned a reputation as one of the top corporate law firms in Turkey. Our clients and peers have also consistently recognised us as the leading competition law practice in Turkey with our team of 45 dedicated competition law specialists, out of a total of 90 lawyers. International and domestic companies seek our advice in this practice area for our unrivalled expertise. In addition, we have a highly respected and internationally ranked corporate and M&A team, internet law and technology, media and telecommunications law practices, along with very strong anti-corruption and compliance, litigation and employment teams.

We are highly visible both in Turkey and internationally and host and attend a number of local and international events. We are also proud to be a frequent publisher in a range of internationally recognised periodicals and journals.

Which practices do you see growing in the next 12 months? What are the drivers behind that?

Our competition law practice has doubled in size over the past 18 months. Part of this trend can be explained by the high demand for our services. Competition authorities are presenting our clients with increasingly complex issues and corporations, business associations, investment banks and partnerships, and individuals operating in Turkey are seeking our specialised services.

The technology and internet sector is also flourishing in Turkey, and we have a thriving technology, media and telecommunications law and internet law practice supporting a number of internationally renowned industry leaders who are eager to ride this new wave. I see this practice continuing to grow over the coming years as we continue to support our clients and contribute to policy development in this area.

To meet this growing demand, we have worked hard to develop and retain young talent. I firmly believe that the depth of our team plays a key part in ensuring we remain a successful firm. A number of our highly skilled senior associates have been promoted to partners and counsel over the past two years. With the support of our partners and seniors, my aim is to create an environment of leadership and mentoring in order to develop the skills of our junior associates and interns, many of whom have overseas experience, so that we retain our talent and focus on the medium to longer term.

Is technology changing the way you interact with your clients, and the services you can provide them?

Continuous investment in technology is the key to enabling our law firm to innovate and streamline. Technology helps us to not only communicate more effectively with our clients but it also allows us to decrease operational costs and continue to provide cost-effective services. We are constantly developing new ways to work smarter and ensure that technology works for us. As an example, we are in the process of updating our practice management system in order to provide more flexible outcomes, develop more detailed transaction analysis, and ensure our information technology systems have the ability to evolve in order to meet our clients’ demands. This use of new technology will allow us to continue to deliver creative fee structures to our clients and ensures that we provide more efficient and effective services.

Can you give us a practical example of how you have helped a client to add value to their business?

We are continually making significant efforts to navigate Turkey’s changing regulatory environment. When given the opportunity, we work with the Turkish regulatory authorities who over the past ten years have come to value our input and expertise combined with our solid understanding of the global business environment. We are pleased to offer an effective contribution to policy making.

Our corporate and M&A team also supports our clients’ entry into the Turkish market by introducing them to a range of expert local service providers, enabling them to build their own local network of advisors.

Are clients looking for stability and strategic direction from their law firms - where do you see the firm in three years’ time?

One of the most challenging aspects for law firm management is keeping abreast of the changes in this emerging market and preserving a competitive edge in order to develop our strategic direction in the medium to long term.

We are very proud to have grown from strength to strength over the last decade and to have received such high recognition for the work we have provided for our clients to date. We will continue to grow and we remain committed to providing the specialised and client-driven legal services that our clients have come to expect.

We are also proud to be an independent Turkish law firm and place high importance on our support of non-governmental and environmental projects within Turkey as part of our commitment to the local community. This includes the planting of 2,000 new trees near Izmir.

Finally, the entire team at ELIG Gürkaynak will continue to provide a client-focused culture and offer our clients a unique insight into the Turkish market in a wide range of industry sectors.

Published April 2018

Legal Developments by:
ELIG Gürkaynak Attorneys-at-Law

  • Turkey: Special Purpose Acquisition Companies

    Special Purpose Acquisition Companies (" SPAC "), which are incorporated to achieve the purpose of investing and merging with a non-public company, were first introduced in the United States in 1990s and recently increased its popularity globally. Unlike other countries, SPACs entered into Turkish legal system relatively late with the Communiqué on Common Principles Regarding Significant Transactions and Appraisal Right (Communiqué No. II-23.1) of the Capital Markets Board (" CMB "), published in the Official Gazette dated 24.12.2013 numbered 28861(" Appraisal Right Communiqué "). Currently, there is no SPAC listed under Borsa Istanbul (" BIST ") in Turkey. SPACs are very similar to venture capital structure and can be considered as a strong alternative for investors and shareholders in Turkey as well.
    - ELIG Gurkaynak Attorneys-at-Law

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