Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 3516

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 1A
Chunk 3516
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even if we are successful. Although we take steps to protect our proprietary information and trade secrets, including through contractual
means with our employees and consultants, third parties may independently develop substantially equivalent proprietary information and
techniques or otherwise gain access to our trade secrets or disclose our technology.

Thus,
we may not be able to meaningfully protect our trade secrets. It is our policy to require our employees, consultants, outside scientific
collaborators, sponsored researchers and other advisors to execute confidentiality agreements upon the commencement of employment or
consulting relationships with us. These agreements provide that all confidential information concerning our business or financial affairs
developed or made known to the individual or entity during the course of the party’s relationship with us is to be kept confidential
and not disclosed to third parties except in specific circumstances. In the case of employees, the agreements provide that all inventions
conceived by the individual, and which are related to our current or planned business or research and development or made during normal
working hours, on our premises or using our equipment or proprietary information, are our exclusive property. In addition, we take other
appropriate precautions, such as physical and technological security measures, to guard against misappropriation of our proprietary technology
by third parties. We have also adopted policies and conduct training that provides guidance on our expectations, and our advice for best
practices, in protecting our trade secrets.

Risks
Related to Third Party Intellectual Property

We
have entered into and may enter into license, sublicense or other collaboration agreements in the future that may impose certain obligations
on us. If we fail to comply with our obligations under such agreements with third parties, we could lose license or sublicense rights
that may be important to our future business.

In
connection with our efforts to expand our pipeline of product candidates, we have entered into and may enter into certain licenses, sublicenses
or other collaboration agreements in the future pertaining to the in-license of rights to additional candidates. Such agreements impose
various diligence, milestone payment, royalty, insurance or other obligations on us. If we fail to comply with these obligations, our
licensor or collaboration partners may have the right to terminate the relevant agreement, in which event we would not be able to develop
or market the products covered by such licensed or sublicensed intellectual property.

Moreover,
disputes may arise regarding intellectual property subject to a licensing agreement, including:

    ●
    the
    scope of rights granted under the license or sublicense agreement and other interpretation-related issues;