Legal Business

Sponsored Q&A: Osman Ertürk ÖZEL, LL.M., managing partner, ÖZEL Attorney Consultancy

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Turkey ÖZEL Attorney Consultancy

Given Turkey’s recent economic problems including the currency crash and inflation together with continued problems created by the Covid-19 pandemic, how is this affecting your firm?

The economic recession in Turkey existed a year before the beginning of Covid. Covid has just made this situation obvious. Serious fluctuations in currency along with over 100% inflation rate have deepened the existing economic crisis. This has caused a disruption in all kinds of production in the markets. The fact that banks kept up the markets through loans has greatly disrupted the balance in the market. As a consequence, the case portfolio in our office has shifted to legal procedures such as breach of contract, mediation, litigation and internal arbitration.

Legal Business

Sponsored briefing: What start-ups and investors should know

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Turkey ÖZEL Attorney Consultancy

Osman Ertürk Özel outlines prominent legal aspects of start-ups in the light of his experiences at Ankara Technology Development Center

Founders of new startups often spend a great deal of their time trying to enlarge their business project by improving and marketing their product or service, together with hiring valuable employees, attracting potential investors and making them excited enough regarding their business plan to convince for a sufficient amount of investment. Entrepreneurs found ways to achieve the aforementioned goals along with upgrading an idea to a billion-dollar valuation company. Nevertheless, it is no surprise that many major matters are being put aside by the founders, especially at the early stages of a project, on the opinion that they are not critical, since they intend to move things as quickly as possible. Adding cost concerns on top of that will lead them not to receive any legal support or financial consultancy services.