Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 2217

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 2217
---
    ●
    the
    extent to which our product candidates, technology and processes infringe on intellectual property of the licensor that is not subject
    to the licensing agreement;

98

    ●
    the
    sublicensing of patent and other rights under our collaborative development relationships;

    ●
    our
    diligence obligations under the license or sublicense agreement and what activities satisfy those diligence obligations;

    ●
    the
    inventorship and ownership of inventions and know-how resulting from the joint creation or use of intellectual property by our licensors
    and us and our partners; and

    ●
    the
    priority of invention of patented technology.

We
are currently party to various sublicense agreements that we depend on to operate our business, and our rights to use currently licensed
intellectual property are subject to the continuation of and our compliance with the terms of these agreements. In spite of our efforts,
our sublicensors might conclude that we have materially breached our obligations under such sublicense agreements and might therefore
terminate the sublicense agreements, thereby removing or limiting our ability to develop and commercialize products and technology covered
by such agreements. In the event that we breach any of our sublicense agreements, or if any of the parties from whom we have sublicensed
intellectual property breach the underlying license agreements, we may not be entitled to the intellectual property that we sublicense.
Moreover, in the event that our sublicensors terminate such agreements, we may be unable to successfully prove that we have not materially
breached our obligations if we disagree with the assertion, and we may be required to expend significant resources to protect our rights
to the intellectual property even if our efforts to do so are ultimately unsuccessful.

In
addition, the agreements under which we currently license and sublicense intellectual property or technology from third parties are complex,
and certain provisions in such agreements may be susceptible to multiple interpretations. The resolution of any contract interpretation
disagreement that may arise could narrow what we believe to be the scope of our rights to the relevant intellectual property or technology,
or increase what we believe to be our financial or other obligations under the relevant agreement, either of which could have a material
adverse effect on our business, financial condition, results of operations, and prospects. Moreover, if disputes over intellectual property
that we have sublicensed prevent or impair our ability to maintain our current sublicensing arrangements on commercially acceptable terms,
we may be unable to successfully develop and commercialize the affected product candidates, which could have a material adverse effect
on our business