Company: TOGIW
Filing Date: 2025-04-23
Form Type: 10-K
Source: 0001214659-25-006296
Chunk: 12

Company: TurnOnGreen, Inc.
Filing Date: 2025-04-23
Form: 10-K
Item: Item 1
Chunk 12
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 primarily been driven by a subset of companies including Tesla, ChargePoint, Blink Charging, EVGO, Electrify America, and Sema
Connect. These companies primarily focus on the growth of public open network charging solutions but are increasingly diversifying into
commercial and residential closed network sales. The EVSE competitive market is fragmented, and not necessarily aligned with the EV needs
of tomorrow. As EVSE charging standards are established and the market is consolidated, we expect that the competitive landscape will
favor our approach to market segmentation, strategic partnerships and product development. EV driver charging behavior indicates that
residential and commercial closed network charging are the areas with the most potential for growth, as an estimated of 85% of EV drivers
charge at home or at work.

The competitive landscape
for closed network residential EVSE sales can be found in the ecommerce segment, where there are several product and class competitors
that vary in size and market reach. This segment is primarily driven by purchasing decisions that are dictated by price, consumer reviews
and product features. Competitors will likely consolidate in the future to establish larger open charging networks, cooperative relationships
with OEM’s, and other EVSE product-based companies. As new alliances emerge in the market, EVSE manufactures that have greater market
share, access to more dynamic and user-friendly software and hardware will put us at a competitive disadvantage. If we are slow to adapt
to changing market conditions and EV innovations our growth will be limited or curtailed, which would negatively affect our ability to
scale business and operations.

Intellectual Property
and Proprietary Technology

We rely on a combination
of trade secrets, industry expertise, confidential procedures and contractual provisions to protect our intellectual property. Given the
continuous updates and revisions that we are making to our products, we believe that the cost of obtaining patents would outweigh the
benefits of doing so. However, we may seek to obtain patents in the future as we continue to develop unique core technologies.

We do not patent technology
developed by us and we cannot be sure that others will not independently develop the same or similar technology or otherwise obtain access
to our technology. To protect our rights in these areas, we require all employees, consultants and others who work for or with us to enter
into confidentiality agreements. We cannot be sure, however, that these agreements will provide meaningful protection for our trade secrets,
know-how or other information in the event of any unauthorized use, misappropriation or disclosure.

We have a registered
our trademarks with the