Competition rules are applied in many countries around the world and the number of countries adopting competition laws are increasing day by day. In Turkey, hefty fines imposed by the Turkish Competition Authority, especially towards the undertakings, took interest of the public and it increased the awareness of competition law around the country. It should be underlined that, direct economic losses may result from acting contrary to the Competition Law. In cases where the Competition Board determines an infringement during its investigations, it can impose undertakings an administrative fine of up to 10% of their turnover of the previous year. Additionally, injured parties of the practices preventing competition may file an action for damages and the Courts may impose compensations up to the three times of the actual damage. Moreover, attorneys' fees, litigation costs from the actions for damages or compulsory expenditure made during the investigations made by the Turkish Competition Authority may increase to a significant amount.
Consequently, it is a necessity for undertakings to comply with the competition rules, considering these material and nonmaterial (damages to the firm's commercial reputation etc.) losses resulting from the infringement of the competition rules. Regardless of their area of expertise, each lawyer is required to advice their clients and undertakings they are counselling in order to keep them away from such practices and be aware of the behaviours posing a danger.
From this point of view, as the Competition and Regulation Department of Balcıoğlu Selçuk Akman Keki Attorney Partnership, as we are of the thought that each lawyer must be provided with the information of competition law at least to the level knowing when to consult a competition lawyer, we prepared the infographic on "Turkish Competition Law Guide for All Lawyers". It is our gift to all lawyers!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
