Joint stock companies are the most commonly established companies in Turkey.

The Natural Gas Market Law numbered 4646 (NGML) was enacted in 2001 in order to reform the legal structure of the natural gas market in Turkey with the aim to liberalize the market and encourage privatization and competition.

Because of Turkey’s dynamic and growing economy, huge market size and competitive and skilled labor force with a young population, foreign investors are widely interested in investing in Turkey.

With the 2008 amendments to the Law on The Protection of Competition, numbered 4054, the "Law", the Turkish Competition Board the "Board" enacted a leniency and immunity programme for infringing companies.

Turkey holds a strategic role in natural gas between the world’s second largest natural gas market, Continental Europe, and the substantial gas reserves of the Caspian Basin and the Middle East.

In certain cases, geographical limitations and factors, such as the need for allowing energy production may lead governments to the takings of immovables and resources from private ownership for a general public interest.

With the 2008 amendments to the Law on The Protection of Competition, numbered 4054 , the "Law", the Turkish Competition Board the "Board" enacted a leniency and immunity programme for infringing companies.

The economical importance of Turkey lies beneath its geographical location. It is situated between where the three old continents, Europe, Asia and Africa meet.

Although there has been preparations to regulate the commercial life in Turkey, a new draft commercial code is pending in the commission to be finalized and proposed, the current Turkish Commercial Code ("TCC") is still in effect and applicable for the liabilities of the Board of Directors in a joint stock company in Turkey.

Over the last two decades, the telecom industry has shown an incredible growth and has considerably changed the way people interrelate. Providing the infrastructure for information society, telecommunication sector has become a strategic sector worldwide in a short while.

The New Turkish Commercial Code ("New Code") has been enacted and will enter into force in July 2012. One of the major changes brought by the New Code regards mandatory independent audits of corporations.

Under Turkish law, in order to establish a pledge over moveable assets, physical possession of such assets shall be transferred to the pledgee in order to perfect the pledge.

The "right of first refusal" allows its holder to claim the transfer of the subject of the right witha unilateral declaration of intent. In doctrine, the right of first refusal may be described basically as an obligation to offer the subject of the right to the holder of the right before selling it to third parties.

The importance of economic relations between the countries has increased with the ever-growing mobility of capital in the globalised world. In the current conditions, where international investments significantly rise, companies wish to maximize their profits.

Introduction of the renewable energies to Turkey’s energy market and the legal system has started with the enactment of the Electricity Market Law, dated February 20, 2001 and numbered 4628 ("Electricity Law").

People face various needs both in their personal and professional lives every day. These needs can be overcome by debt relationships with others, often by establishing contracts.

By the late 1980s, entry of foreign capital into Republic of Turkey has significantly increased, following the amendments in the foreign investment law.

In the recent years, the Privatization Administration of the Prime Ministry of the Republic of Turkey (the "Administration") has given priority to the privatization of several electricity distribution companies (the "Distribution Company") which are state-owned economic enterprises actively involved in the electricity market in Turkey.

Last years have witnessed some amendments and changes in Turkish legislation regarding mining regime in Turkey. Article of the Mining Law which puts the Mining Activities Permit Regulation into effect has been abolished by Constitutional Court, while several articles of the Mining Permits Regulation was granted a stay of execution.

Nowadays innumerable contracts/ agreements have been made online, owing to rapid growth of internet technology and the electronic communication techniques.