Company: LASE
Filing Date: 2025-06-24
Form Type: 10-K
Source: 0001641172-25-016194
Chunk: 186

Company: Laser Photonics Corp
Filing Date: 2025-06-24
Form: 10-K
Item: Item 1
Chunk 186
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We
rely primarily on a combination of trademarks and trade secrets, as well as associate and third-party confidentiality agreements, to
safeguard our intellectual property.

With
respect to proprietary know-how that is not patentable and processes for which patents are difficult to enforce, we rely on, among other
things, trade secret protection and confidentiality agreements to safeguard our interests. We believe that many elements of our laser
system manufacturing process, including our unique materials sourcing, involve proprietary know-how, technology, or data that are not
covered by patents or patent applications, including technical processes, equipment designs, algorithms, and procedures. We have taken
security measures to protect these elements. All our research and development personnel will have to sign confidentiality and proprietary
information agreements with us. These agreements address intellectual property protection issues and require our associates to assign
to us all the inventions, designs, and technologies they develop during the course of employment with us. We also require our customers
and business partners to enter into confidentiality agreements before we disclose any sensitive aspects of our modules, technology, or
business plans.

11

Employees
and Human Capital

As
of December 31, 2024, we employed 94 full-time team members and had no part-time employees. Our human capital strategy focuses on identifying,
recruiting, retaining, incentivizing, and effectively integrating both existing personnel and new talent, including employees, advisors,
and consultants. These efforts are essential to support our continued growth and innovation across all areas of the business.

Government
Regulation

Our
current and contemplated activities and the products and processes that will result from such activities are subject to substantial government
regulation, both in the United States and internationally.

Government
Contracts and Regulations

Our
U.S Government business is heavily regulated. We contract with several U.S. Government agencies and entities, principally all branches
of the U.S. military. We must comply with, and are affected by, laws and regulations relating to the formation, administration, and performance
of U.S. Government contracts. These laws and regulations, among other things:

    ●
    require
    certification and disclosure of all cost or pricing data in connection with certain types of contract negotiations;

    ●
    impose
    specific and unique cost accounting practices that may differ from U.S. generally accepted accounting principles (GAAP);

    ●
    impose
    acquisition regulations, which may change or be replaced over time, that define which costs can be charged to the U.S. Government,