What is the Assignor assigning to the Assignee in the Beard Papas Assignment agreement?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
(c) All Digital Media, all Digital Media accounts and all Digital Media log-in information.
The foregoing shall not be construed and/or interpreted as Assignees acknowledgment and/or agreement that Assignor owns and/or possesses any ownership interests in the foregoing telephone numbers, accounts and/or Digital Media. Any and all rights of Assignor in and to same exist subject to a limited license pursuant to the Beard Papa's Shop Franchise Agreement which shall take precedence and govern. However, this Assignment is intended by Assignor and Assignee to be an instrument that may be relied upon by all third parties to authorize and permit the assignments and transfers set forth in this Assignment and to facilitate the transfer of accounts and media to within the control of Assignee. Nothing contained in this Assignment shall be used to construe nor imply that Assignor possesses any ownership interests or rights in the Digital Media and in the event of any inconsistency or conflict between this Assignment and the Franchise Agreement, the Franchise Agreement shall take precedence and govern.
- This Assignment will become effective automatically upon the termination or expiration of the Franchise Agreement for any reason. As to all third parties proof of the expiration or termination of the Franchise Agreement shall exist exclusively upon the written declaration of Assignee and Assignee's declaration shall be dispositive and not subject to challenge. Assignor acknowledges that all third parties may rely on this Assignment for the purpose of taking any and all actions to ensure that access to and control of the Media is maintained by Assignee.
UTILIZATION OF THIS ASSIGNMENT SHALL EXIST AT THE SOLE DISCRETION OF ASSIGNEE AND FOR THE SOLE BENEFIT OF ASSIGNEE.
Source: Item 23 — RECEIPTS (FDD pages 58–275)
What This Means (2025 FDD)
According to the 2025 Beard Papas FDD, the Assignment of Telephone Numbers and Digital Media Accounts agreement involves the assignor transferring specific digital assets to the assignee. These assets include all digital media, digital media accounts, and digital media log-in information.
However, the FDD stipulates that this assignment does not automatically imply that the assignor owns these telephone numbers, accounts, or digital media. The assignor's rights are subject to a limited license under the Beard Papa's Shop Franchise Agreement, which takes precedence over the assignment agreement. The primary purpose of the assignment is to allow third parties to authorize and permit the transfers of accounts and media to the control of the assignee.
Furthermore, the document clarifies that the assignment should not be interpreted as the assignor possessing any ownership interests in the digital media. In case of any conflict between the assignment and the Franchise Agreement, the Franchise Agreement will govern. The assignment becomes effective upon the termination or expiration of the Franchise Agreement, with the assignee's written declaration serving as conclusive proof of termination or expiration for third parties. The utilization of this assignment is at the sole discretion and benefit of the assignee.