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COMMERC I AL LAW
75
Current Problems Concerning Pledge on Commercial
Enterprise
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Introduction
Thepledgeofmovableassetsofundertakings, suchasmachines, vehicles
and engine transport vehicles, and intangible assets, such as trademarks,
patents, and the licenses of undertakings, is important for securing the
increasing financing needs of undertakings. However, delivery of the
aforementioned movables for fulfillment of a pledge causes the enterprise
to become inactive and the financing becomes functionless. The pledge
on a commercial enterprise is created to avoid this inconvenience. With a
pledge on a commercial enterprise, the movables are pledged entirely by a
single pledge agreement without the delivery of their possession. This sort
of pledge is regulated by the Law of Pledges on Commercial Enterprises
(hereinafter referred to as the “LPCE”) numbered 1447, the regulation,
and the bylaw regarding implementation of the Law.
Main Rules Regarding the Subject and Scope of Pledge
Pledges on commercial enterprises are created on assets allocated
to commercial enterprises or craftsmen enterprises. It is possible to
classify these elements in scope as “obligatory elements” and “facultative
elements”.
In principle, the obligatory elements of pledge are the trade name,
firm name, and movable operation installments. The trademarks, patents,
brevets, images, and licenses allocated to commercial enterprises are
facultative elements; one or some of these may be excluded from the
scope of a pledge. The assets apart from these elements and which are
not included in the pledge agreement are beyond the scope of the pledge.
New elements brought into an enterprise must be included on the list and
registered in the Trade Registry or Registry of Craftsmen and Artisans so
that these elements are within the scope of the pledge.
An immovable related to a commercial enterprise is not within the
scope of this pledge. It is necessary to have a separate mortgage on this
immovable. The provisions concerning the mortgages on ships are reserved.
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Article of November 2010 – Prof. Dr. H. Ercüment Erdem