Western Union 2013 Annual Report Download - page 141

2013 FORM 10-K
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We may not realize all of the anticipated benefits from productivity and cost-savings and other related initiatives, which may
include decisions to downsize or to transition operating activities from one location to another, and we may experience disruptions
in our workforce as a result of those initiatives.
We have engaged in actions and activities associated with productivity improvement initiatives and expense reduction
measures. We may implement additional initiatives in future periods. While these initiatives are designed to increase productivity
and result in cost savings, there can be no assurance that the anticipated benefits will be realized, and the costs to implement such
initiatives may be greater than expected. In addition, these initiatives have resulted and will likely result in the loss of personnel,
some of whom may support significant systems or operations. Consequently, these initiatives could result in a disruption to our
workforce. If we do not realize the anticipated benefits from these initiatives, or the costs to implement them are greater than
expected, or if the actions result in a disruption to our workforce greater than anticipated, our business, financial condition, and
results of operations could be adversely affected.
There can be no guarantee that we will continue to make dividend payments or repurchase stock.
For risks associated with our ability to continue to make dividend payments or repurchase shares, please see Part II, Item 5,
Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities.
Our ability to remain competitive depends in part on our ability to protect our brands and our other intellectual property rights
and to defend ourselves against potential intellectual property infringement claims.
The Western Union brand, which is protected by trademark registrations in many countries, is material to our Company. The
loss of the Western Union trademark or a diminution in the perceived quality associated with the name would harm our business.
Similar to the Western Union trademark, the Vigo, Orlandi Valuta, Speedpay, Equity Accelerator, Pago Fácil, Western Union
Payments, Quick Collect, Quick Pay, Quick Cash, Convenience Pay, Western Union Business Solutions and other trademarks and
service marks are also important to our Company and a loss of the service mark or trademarks or a diminution in the perceived
quality associated with these names could harm our business.
Our intellectual property rights are an important element in the value of our business. Our failure to take appropriate actions
against those who infringe upon our intellectual property could adversely affect our business, financial condition and results of
operations.
The laws of certain foreign countries in which we do business do not protect intellectual property rights to the same extent as
do the laws of the United States. Adverse determinations in judicial or administrative proceedings in the United States or in foreign
countries could impair our ability to sell our services or license or protect our intellectual property, which could adversely affect
our business, financial condition and results of operations.
We have been, are and in the future may be, subject to claims alleging that our technology or business methods infringe
intellectual property rights of others, both inside and outside the United States. Unfavorable resolution of these claims could require
us to change how we deliver a service, result in significant financial consequences, or both, which could adversely affect our
business, financial condition and results of operations.
Changes in tax laws and unfavorable resolution of tax contingencies could adversely affect our tax expense.
Our future effective tax rates could be adversely affected by changes in tax laws, both domestically and internationally. From
time to time, the United States Congress and foreign, state and local governments consider legislation that could increase our
effective tax rates or impose other obligations. If changes to applicable tax laws are enacted, our results of operations could be
negatively impacted.