Company: SYRA
Filing Date: 2025-03-11
Form Type: 10-K
Source: 0001493152-25-009873
Chunk: 270

Company: Syra Health Corp
Filing Date: 2025-03-11
Form: 10-K
Item: Item 1A
Chunk 270
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 result of the proceedings. As a result, if we fail to maintain adequate intellectual property
protection or if a third party infringes or misappropriates our intellectual property, it may have a material adverse impact on our business,
results of operations or financial condition.

-18-

Many
of our products are based on or incorporate proprietary information. We actively seek to protect our proprietary information, including
our trade secrets and proprietary know-how, by generally requiring our employees, consultants, other advisors and other third parties
to execute agreements that contain confidentiality provisions. Despite these efforts and precautions, we may be unable to prevent a third
party from copying or otherwise obtaining and using our trade secrets or our other intellectual property without authorization and legal
remedies may not adequately compensate us for the damages caused by such unauthorized use.

In
addition, there can be no assurance that our competitors will not independently develop products or services that are equivalent or superior
to our solutions.

We
may be subject to claims that our employees, consultants or independent contractors have wrongfully used or disclosed confidential information
of third parties.

We
have received confidential and proprietary information from third parties. In addition, we may employ individuals who were previously
employed at other healthcare services companies. We may be subject to claims that we or our employees, consultants or independent contractors
have inadvertently or otherwise improperly used or disclosed confidential information of these third parties or our employees’
former employers. Further, we may be subject to ownership disputes in the future arising, for example, from conflicting obligations of
consultants or others who are involved in developing our solutions. We may also be subject to claims that former employees, consultants,
independent contractors or other third parties have an ownership interest in our intellectual property. Litigation may be necessary to
defend against these and other claims challenging our right to and use of confidential and proprietary information. In addition to paying
monetary damages, if we fail in defending against any such claims we may lose our rights therein, which could have a material adverse
effect on our business. Even if we are successful in defending against these claims, litigation could result in substantial cost and
be a distraction to our management and employees.

We
depend on a small number of large customers and the loss of one or more major customers could have a material adverse effect on our business,
financial condition and results of operations.

For
the years ended December 31, 2024 and 2023, FSSA accounted for approximately 61% and 68% of