Company: MRT
Filing Date: 2025-04-29
Form Type: 20-F
Source: 0001213900-25-036882
Chunk: 51

Company: Marti Technologies, Inc.
Filing Date: 2025-04-29
Form: 20-F
Item: Item 3
Chunk 51
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 could decrease,
and we could be exposed to a risk of loss, litigation, and regulatory proceedings. Depending on the nature of the information compromised,
in the event of a data breach, disruption or other unauthorized access to our user data, we may also have obligations to notify the relevant
governmental bodies and users about the incident and we may need to provide some form of remedy for the individuals affected by the incident.
A growing number of legislative and regulatory bodies have adopted consumer notification requirements in the event of unauthorized access
to or acquisition of certain types of personal data. Such breach notification laws continue to evolve and may be inconsistent from one
jurisdiction to another. Complying with these obligations could cause us to incur substantial costs and could increase negative publicity
surrounding any incident that compromises user data. Our users may also accidentally disclose or lose control of their passwords, creating
the perception that our systems or those of our third-party service providers are not secure against third-party access. Additionally,
if third parties we work with, such as vendors, business partners, service providers, or developers, violate applicable laws, agreements,
or our policies, or experience security breaches that affect our user information, such violations or breaches may also put our users’
information at risk and could in turn have an adverse effect on our business.

Our services and products have and could
continue to subject us to additional laws and regulations, and any actual or perceived failure by us to comply with such laws and regulations
or manage the increased costs associated with such laws or regulations could adversely affect our business, financial condition, or results
of operations.

Laws and regulations are continuously evolving,
and compliance is costly, often requiring changes to our business practices and significant management time and effort. It is not always
clear how existing laws apply to our new business models. We strive to comply with all applicable laws, but the scope and interpretation
of the laws that are or may be applicable to us is often uncertain and may conflict across jurisdictions. As we enter new businesses or
introduce new lines of business, we may be subjected to ambiguous or broad laws and regulations, which could adversely affect our operational
costs.

For example, on February 3, 2023, the Istanbul
Otomobilciler Esnaf Odası, an association of taxi owners, filed a lawsuit against us over our ride-hailing and e-moped services,
claiming that these services create unfair competition. The plaintiff also requested that the court prevent third parties from accessing
these services through