Company: WKSP
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000850
Chunk: 109

Company: Worksport Ltd
Filing Date: 2025-03-27
Form: 10-K
Item: Item 1
Chunk 109
---
, and any future products
in the U.S. and other countries. If we do not adequately protect our technology, product candidates and future products, competitors
may be able to use or practice them and erode or negate any competitive advantage we may have, which could harm our business and ability
to achieve profitability. The laws of some foreign countries do not protect our proprietary rights to the same extent or in the same
manner as U.S. laws, and we may encounter significant problems in protecting and defending our proprietary rights in these countries.
We will be able to protect our proprietary rights from unauthorized use by third parties only to the extent that our proprietary technologies,
product candidates and any future products are covered by valid and enforceable patents or are effectively maintained as trade secrets.

20

Certain
aspects of our technologies are protected by patents, patent applications, and trade secrets. In addition, we have a number of new patent
applications pending. There is no assurance that the applications still pending or which may be filed in the future will result in the
issuance of any patents. Furthermore, there is no assurance as to the breadth and degree of protection any issued patents might afford
us. Disputes may arise between us and others as to the scope and validity of these or other patents. Any defense of the patents could
prove costly and time-consuming, and there can be no assurance that we will be in a position, or deem it advisable, to carry on such
a defense. A suit for patent infringement could result in increasing costs as well as delaying or halting development. Other private
and public entities, including universities, may have filed applications for, may have been issued, or may obtain additional patents
and other proprietary rights to technology potentially useful or necessary to us. We are not currently aware of any such patents, but
the scope and validity of such patents, if any, and the cost and availability of such rights are impossible to predict.

Any
trademarks we may obtain may be infringed or successfully challenged, resulting in harm to our business.

We
expect to rely on trademarks as one means to distinguish our products from our competitors’ products. Once we select trademarks
and apply to register them, our trademark applications may not be approved. Third parties may oppose our trademark applications or otherwise
challenge our use of the trademarks. In the event that our trademarks are successfully challenged, we could be forced to rebrand our
products, which could result in a loss of brand recognition and could require us to devote