Does the Apricot Lane franchise agreement define 'Trade Secret' to include a device?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
- (h) "Trade Secret(s)" shall mean information, including a customer lists, pattern, compilation, program, device, method, technique or process related to the Franchise Business that both derives independent economic value, actual or potential, from not being generally known to, and not being readily ascertainable by proper means by other persons who can obtain economic value from its disclosure or use and is the subject of efforts that are reasonable under the circumstances to maintain its secrecy.
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to Apricot Lane's 2025 Franchise Disclosure Document, the term 'Trade Secret' is defined to include a device. The agreement specifies that a trade secret encompasses information related to the franchise business that has economic value due to its secrecy and is actively protected. This definition extends to various elements, including customer lists, patterns, compilations, programs, devices, methods, techniques, or processes.
This definition means that Apricot Lane franchisees must protect any devices considered trade secrets, as unauthorized disclosure or use could cause significant harm to Apricot Lane. Franchisees acknowledge that Apricot Lane has invested considerable resources in developing these trade secrets and takes precautions to maintain their secrecy.
The franchise agreement also outlines the franchisee's obligations regarding the nondisclosure of trade secrets. During the term of the franchise agreement and even after its termination, the franchisee is prohibited from publishing, disclosing, or using any of Apricot Lane's trade secrets for their own benefit or the benefit of others, except for the use of the Apricot Lane franchise business. This obligation extends for as long as the information remains a trade secret.