Under the section "Risks Related to Our Business and Industry" in Google Inc.'s Form 10-K for the fiscal year ended Dec. 31, 2008, the following items were headlined:
-- We face competition across all geographic markets from other internet companies, including web search providers, internet advertising companies, destination web sites and local information providers, and from traditional media.
-- We generate our revenues almost entirely from advertising, and the reduction in spending by or loss of advertisers could seriously harm our business.
-- Our business depends on a strong brand, and failing to maintain and enhance our brand would hurt our ability to expand our base of users, advertisers and Google Network members.
-- Our international operations are subject to increased risks, which could harm our business, operating results and financial condition.
-- Our Intellectual Property rights are valuable, and any inability to protect them could reduce the value of our products, services and brand.
--We are and may in the future be subject to Intellectual Property rights claims, which are costly to defend, could require us to pay damages and could limit our ability to use certain technologies in the future.
-- Privacy claims relating to our technology could damage our reputation and deter current and potential users from using our products and services.
-- We are subject to increased regulatory scrutiny that may negatively impact our business.
-- Proprietary document formats may limit the effectiveness of our search technology by preventing our technology from accessing the content of documents in such formats, which could limit the effectiveness of our products and services.
-- We have a short operating history and a relatively new business model in an emerging and rapidly evolving market. This makes it difficult to evaluate our future prospects and may increase the risk that we may not continue to be successful.
-- Payments to certain of our Google Network members have exceeded the related fees we receive from our advertisers.
--Excerpted from Google's SEC filings by Steve Yahn
July 1, 2009
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