Admission Document - BrainJuicer

Investment Strategy
• There can be no certainty that the Group will be able to implement successfully the strategy set out in
this document.
• The ability of the Group to implement its strategy in a competitive market requires effective planning
and management control systems. The Group’s future growth will depend on its ability to expand and
improve operational, financial and management information and control systems in line with the
Group’s growth. Failure to do so could have an adverse effect on the Group’s business, financial
condition and results of operations.
• There may be a change in government regulation or policies, which materially adversely affects the
Group’s ability to implement successfully the strategy set out in this document.
Intellectual Property
• Although the Group protects its intellectual property, there can be no assurance that patents will be
issued with respect to applications now pending or which may be applied for in the future. The lack
of any such patents may have a material adverse effect on the Group’s ability to develop its business.
No assurance can be given that patents granted or licensed to the Group will be sufficiently broad in
their scope to provide full protection. There can be no assurance as to the validity or scope of any
patents which have been, or may in the future be, granted or licensed to the Group or that claims
relating to the patents will not be asserted by other parties. The commercial success of the Group also
depends upon the Group not infringing patents granted to third parties who may have filed
applications or who have obtained or may obtain patents relating to business processes which might
inhibit the Group’s ability to develop and exploit its own business. If this is the case, the Group may
have to obtain alternative technology or reach commercially acceptable terms on the exploitation of
other parties’ intellectual property rights. There can be no assurance that the Group will be able to
obtain alternative technology or, if any licences are required, that the Group will be able to obtain any
such licence on commercially acceptable terms, if at all.
• Third parties who have filed patents and established priority may by amending the scope of such
patents to include the business model of the Group be in a position to restrict the Group from carrying
out its business in accordance with its business model resulting in the Group having to engage in
litigation against such third parties or reach a settlement result which could result in substantial costs
to the Group.
• To the extent that the Group’s processes are protected by intellectual property rights and the Group is
alleged to infringe third party intellectual property rights, then litigation may be necessary and could
result in substantial cost to, and diversion of efforts by, the Group’s management with no guarantee
of success. The Group does not carry any intellectual property insurance.
• The Directors rely upon their knowledge of the market place to identify any breach,or alleged breach,
of patents held by the Group and they do not normally instruct patent agents for this purpose.
Competition
• Competitors may be able to develop products and services that are more attractive to clients than the
Group’s products and services. In order to be successful in the future the Group will need to continue
to finance substantial research and development activities and continue to respond promptly and
effectively to the challenges of technological change in the market research industry and competitors’
innovations. An inability to devote sufficient resources to research and development activities in order
to achieve this may lead to a material and adverse effect on the Group’s business.
• The Group has developed a wholly internet based research strategy which other large and established
research organisations are also beginning to adopt. Some of these more established research
organisations, which have well developed brands and substantial resources, may be able to use these
to compete very effectively in developing online research capability, panels and competing software.
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