"A key part of our strategy is to form collaborations with semiconductor, defense and electronics companies that will assist us in developing, testing, and commercializing the POET platform. We currently have a collaborative agreement for process development with BAE Systems, Nashua, New Hampshire (“BAE”), which provides for the joint development program of the Company’s POET technology and undivided 50% joint interest in intellectual property jointly developed thereunder (subject to the Company’s and its subsidiaries’ obligations to UCONN), with royalties running from each to the other in connection with revenues generated from the intellectual property. BAE does not have any exclusive rights to develop POET. We anticipate entering into agreements with other companies relating to developing the technology and supporting our commercialization efforts in the commercial sector. If we are unable to do this in a timely basis, we may be delayed in one or all stages of our progress, which could prove costly both operationally and strategically."

20-F

https://www.sec.gov/Archives/edgar/data/1437424/000110465914045676/a14-15296_120fr12ga.htm