1. SOME POINTS Dr. Özlem Döğerlioğlu

2. M AIN T ARGETS Transparency, Accountability, Institutionalization, Electronic Procedures Better investment opportunities Prevention of unregistered system

3. LEGISLATION –COMMERCIAL LAW  Until 1850 there is no seperate code that regulates commercial law  Related to commercial issues the first code is: Commercial Code dated 1850 (Kanunname-i Ticaret)’tir  Commercial Code Numbered 845  Commercial Code Numbered 6762 (1956, Germany/Switzerland)  Commercial Code Numbered 6102 3

4. COMMERCIAL BOOKS Obligation of keeping commercial books (Article 64 of TCC) UFRS system - International Financial Reporting Standards Transparency *Registration or copy of all of the documents of commercial enterprise Keeping of commercial books electronically or as a dossier Keeping period: 10 years

5. Corporations Ordinary partnership Commercial Corporations Personal based companies(Şahıs şirketi) Collective Company Ordinary Commandite Company Capital based companies Limited Liability Company Joint-Stock Company Commandite Company with capital divident in to sahres Co-operatives

6. Capital Based Company JOINT STOCK Capital Based LIMITED LIABILITY

7. M AıN C ONCEPT --- C APITAL What is capital? Through owner of the enterprise/partners– by whom? For fulfilling of the activities– for what? For commercial enterprise--- to where? Partners/owner ---- rights over capital????

8. O RDINARY PARTNERSHıPS Regulated in Code of Obligations NOT TCC Two or more person Common purpose Labor- commodities

9. PERSONAL BASED COMPANIES Types Collective Company Ordinary Commondite Company

10. D EFıNıTıON OF COLLECTıVE COMPANY What is the definition of “Collective Company”? Article 212 of TCC

11. COLLECTIVE COMPANY Purpose: Operating of a commercial enterprise Established by real persons Unlimited liability of the partners against company creditors Legal person can not be partner At least two real person partner

12. C OMPOSITION OF T RADE - NAME L EGAL P ERSON M ERCHANT - C OLLECTIVE C OMPANY At least one of the partners Name&Surname İbrahim Okur ve Ortakları Types of the Company Collective Company Trade-name İbrahim Okur ve Partners Collective Company

13. C OMPOSITION OF T RADE - NAME L EGAL P ERSON M ERCHANT - C OLLECTIVE C OMPANY Only real persons may be partner Ahmet Yılmaz ve Hasan Çelebi Collective Company Ahmet Yılmaz Collective Company Ahmet Yılmaz & Partners Collective Company

14. C OMPOSITION OF T RADE - NAME L EGAL P ERSON M ERCHANT - C OMMANDITÉ C OMPANY What is the definition of “Commondité Company”? Article 304 of TCC

15. C OMPOSITION OF T RADE - NAME L EGAL P ERSON M ERCHANT - C OMMANDITE C OMPANY At least one of unlimited liable partners’ Name&Surname İbrahim Okur ve Ortakları Types of the Company Commandite Company Trade-name İbrahim Okur ve Partners Collective Company

16. JOINT-STOCK COMPANY At least one real or legal person Minimum Capital: 50.000--- All of the capital undertaken 100.000---- Registered capital sytem The company shall be deemed as established on the date of approval of the signatures at the Notary. Legal personality shall be entitled on the date of registration.

17. L IMITED L ıABLıTY COMPANY At least one real or legal person, at most 50 Minimum Capital: 10.000 TL ¼ Of the capital in advance, the rest within 24 months.