2025 Annual Report
Part I
Part I
managing local operations. Risks associated with making our products and services available in international markets include, for example:
- compliance with multiple, conflicting and changing governmental laws and regulations, including antitrust and competition regulations;
- requirements to have local partner(s), local entity ownership limitations or technology transfer or sharing requirements, or to comply with data residency and transfer laws and regulations, privacy and data protection laws and regulations, which may increase operational costs and restrictions;
- the possibility that illegal or unethical activities of our local employees or business partners will be attributed to us or cause us harm;
- longer and potentially more complex sales and payment receipt cycles and other collection difficulties;
- different pricing and distribution environments;
- potential changes in international trade policies, tariffs, agreements and practices, including the adoption and expansion of formal or informal trade restrictions or regulatory frameworks that may favor local companies;
- governmental direction, business practices and/or cultural norms that may favor local companies;
- more prevalent cybersecurity, IP and AI risks; and
- localization of our services, including translation into foreign languages and associated expenses.
If we are unable to manage these risks, our business will be adversely affected.