Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 60

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 60
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 commercialization process. This may reduce or eliminate any market advantages that such patents may give us. Following patent
expiration, we may face increased competition through the entry of competing products into the market and a subsequent decline in market
share and profits.

Moreover, our business interests may change, or our
licensors may disagree with the scope of our license grants. In such cases, litigation could impede our ability to commercialize the technology,
or such licensing arrangements may result in the development, manufacturing, marketing, and sale by our licensors of products substantially
similar to our products, causing us to face increased competition, which could reduce our market share and significantly harm our business,
results of operations and prospects.

The duration
of our patent rights may not be sufficient to effectively protect our products and business.

Patents have a limited lifespan. In the United States,
the natural expiration of a patent is generally 20 years after its first effective non-provisional filing date. Although various extensions
may be available, the duration of a patent, and the protection it affords, is limited. Even if patents covering our technologies, products,
or product candidates are obtained, once the patent life has expired, we may be open to competition. Patents covering some of our core
technology have expired or will expire within the next five years. In particular, the earliest of our U. S. patents on Deep TMS expired
in January 2024. See “Business - Intellectual Property.” In addition, although upon issuance in the United States
a patent can be extended based on certain delays caused by the United States Patent and Trademark Office (USPTO), this extension can
be reduced or eliminated based on certain delays caused by the patent applicant during patent prosecution. If we do not have sufficient
patent life to protect our technologies, products, and product candidates, our business, and results of operations will be adversely
affected.

Our right
to the essential intellectual property upon which the Deep TMS technology is based derives from in-license agreements with government
agencies and research institutions, the termination of which would prevent us from commercializing Deep TMS.

We have in-licensing agreements with the PHS and
Yeda. There is no assurance that the in-licenses or related rights on which we base our technology will not be terminated due to a material
breach of the underlying agreements or some other failure to meet the terms of agreement, such as a failure on our part to make certain
progress milestone payments set forth in the terms