What agreements must the manager and owners of an Advanced Mobile Iv And Amiv franchise agree to?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
If you are a corporation, partnership, limited liability company or other entity, all persons who have a legal or beneficial interest in you ("Owners") must also sign this Agreement. You own or intend to own the percentage legal or beneficial ownership interest in Franchisee, set forth beneath your signature below, and acknowledge and agree that your signing of this Agreement is a condition to this ownership interest and that you have received good and valuable consideration for signing this Agreement. Franchisor may enforce this Agreement directly against you and your Owners.
THEREFORE, in consideration of the mutual promises and covenants, the parties agree as follows:
1 PROTECTION OF CONFIDENTIALITY
- 1.1 The Franchisor's Exclusive Property. You acknowledge and agree that all Confidential Information is and shall continue to be the Franchisor's sole and exclusive property, whether or not disclosed or entrusted to you in connection with your relationship with Franchisee or the Franchisor. Nothing in this Agreement will give you or others any right, title, or interest whatsoever in or to them. The Confidential Information shall be considered the Franchisor's trade secrets and shall be entitled to all protections provided by applicable law to trade secrets. The Confidential Information shall include information in any form in which such information exists, whether oral, written, digital, or other form of media.
- 1.2 Safeguard of Confidential Information. You agree to exercise the highest degree of care in safeguarding Confidential Information against loss, theft, or other inadvertent disclosure. You agree to accord to the Confidential Information the same degree of care and use the same confidentiality protection practices as you exercise or employ with respect to your confidential or proprietary information. This includes obligating employees and consultants who receive Confidential Information to covenants of confidentiality and non-use.
- 1.3 Notice. You agree that if you or your Owners, employees and agents are served with any subpoena
Source: Item 15 — OBLIGATION TO PARTICIPATE IN THE ACTUAL OPERATION OF THE FRANCHISE BUSINESS (FDD pages 42–43)
What This Means (2023 FDD)
According to the 2023 Advanced Mobile Iv And Amiv Franchise Disclosure Document, if the franchisee is a corporation, partnership, limited liability company, or other entity, all individuals with a legal or beneficial interest in the franchisee must also sign the Franchise Agreement. By signing, these owners acknowledge that their ownership interest is conditional upon their agreement to the terms, and they confirm they have received sufficient consideration for doing so. Advanced Mobile Iv And Amiv retains the right to directly enforce the Franchise Agreement against both the franchisee and its owners.
Owners and managers must also agree to protect the confidentiality of Advanced Mobile Iv And Amiv's proprietary information. This includes safeguarding it against loss, theft, or inadvertent disclosure with the highest degree of care. They must use the same confidentiality protection practices they would use for their own confidential information, including obligating employees and consultants to confidentiality and non-use agreements. This obligation extends to information in any form, whether oral, written, digital, or other media.
Furthermore, owners and managers must agree to notify Advanced Mobile Iv And Amiv if they, their employees, or agents are served with any subpoena or court order requiring the disclosure of confidential information. This ensures that Advanced Mobile Iv And Amiv is aware of any potential breaches of confidentiality and can take appropriate action to protect its interests.