Company: BWAY
Filing Date: 2025-04-22
Form Type: 20-F
Source: 0001171843-25-002347
Chunk: 63

Company: Brainsway Ltd.
Filing Date: 2025-04-22
Form: 20-F
Item: Item 5
Chunk 63
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discovery based on such patents, which may have unexpected, adverse consequences upon the market for our product.

Under our PHS license agreement, the U. S. government
possesses an irrevocable, nonexclusive, nontransferable royalty-free license for the practice of inventions based on the inventions upon
which our Deep TMS technology is based, for the benefit of the U. S. government, foreign governments, or international organizations under
any existing or future treaty or agreement applicable to the U. S. government at such time. Furthermore, the PHS may grant, or may cause
us to grant, nonexclusive research licenses, for the purpose of encouraging basic research at academic or corporate facilities (but, in
the case of any license to a commercial entity, subject to our right to object if we believe that such license would adversely impact
the exclusivity of our rights under the agreement). The PHS may also require us to grant sublicenses to responsible applicants if the
public health and safety so require, subject to our right to demonstrate that any such sublicense will not materially increase the availability
to the public of our licensed rights or that such public health and safety requirements may be otherwise met without any such sublicense.

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No material limits have been placed on the license
held by the U. S. government for its own (or for its treaty partners’ or agreement counter-parties’) benefit, and it is possible
that the U. S. government, a foreign government or an international organization could even commercialize a product on the basis of this
license and the related technology. We cannot provide assurance that these rights will not be exploited in a manner that infringes upon
any otherwise enforceable exclusive licenses we hold to the PHS-owned patents, that does not develop or advance products that compete
with our own, or that does not otherwise adversely impact our business. Because our rights with respect to the PHS-owned patents are critical
to Deep TMS-based technologies and systems, any unexpected consequences from the U. S. government’s or other third party’s
exploitation of such rights could have an adverse impact on the market for Deep TMS and, hence, on our business, financial condition,
and results of operations.

If we are
unable to protect the confidentiality of our trade secrets or know-how, such proprietary information may be used by others to compete
against us.

In addition to filing patent applications, we generally
try to protect our trade secrets, know-how, technology, and