When investigating an Auntie Annes franchise, under what conditions can the Confidential Information be shared with financial and legal advisors?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
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- The undersigned may not disclose or disseminate the Confidential Information to any third party without the Franchisor's prior written consent, except the undersigned may share the Confidential Information with his/her financial and legal advisors on a need to know basis only and only if such advisors agree to be bound by the terms and conditions of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 106)
What This Means (2024 FDD)
According to Auntie Annes's 2024 Franchise Disclosure Document, a prospective franchisee may share confidential information with their financial and legal advisors under specific conditions. This allowance is made within the context of investigating an Auntie Anne's franchise opportunity.
Specifically, the franchisee can only share confidential information with advisors on a "need to know basis." This implies that the information shared should be directly relevant to the advisor's role in evaluating the franchise opportunity.
Furthermore, before sharing any confidential information, the financial and legal advisors must agree to be bound by the same terms and conditions outlined in the confidentiality agreement between the prospective franchisee and Auntie Annes. This ensures that the advisors are legally obligated to protect the confidentiality of the information, preventing unauthorized disclosure or use.