What procedures must a Better Blend franchisee adhere to for maintaining the confidentiality of Confidential Information?
Better_Blend Franchise · 2024 FDDAnswer from 2024 FDD Document
13.1 Confidential Information. With respect to all Confidential Information, Franchisee shall (a) adhere to all procedures prescribed by BBF for maintaining confidentiality, (b) disclose such information to its employees only to the extent necessary for the operation of the Business, (c) not use any such information in any other business or in any manner not specifically authorized in
writing by BBF, (d) exercise the highest degree of diligence and effort to maintain the confidentiality of all such information during and after the term of this Agreement, (e) not copy or otherwise reproduce any Confidential Information, and (f) promptly report any unauthorized disclosure or use of Confidential Information. Franchisee acknowledges that all Confidential Information is owned by BBF (except for Confidential Information which BBF licenses from another person or entity). This Section will survive the termination or expiration of this Agreement indefinitely.
Source: Item 22 — CONTRACTS (FDD page 43)
What This Means (2024 FDD)
According to Better Blend's 2024 Franchise Disclosure Document, franchisees have specific obligations regarding confidential information. Franchisees must adhere to all procedures prescribed by Better Blend for maintaining confidentiality. This includes disclosing confidential information to employees only to the extent necessary for business operations and refraining from using such information in any other business or manner not explicitly authorized by Better Blend in writing.
Better Blend franchisees must exercise the highest degree of diligence and effort to maintain the confidentiality of all such information both during and after the term of the Franchise Agreement, which extends indefinitely beyond the agreement's termination or expiration. Franchisees are prohibited from copying or reproducing any confidential information and must promptly report any unauthorized disclosure or use of confidential information.
Better Blend emphasizes that all confidential information is owned by them, except for information they license from another entity. These stipulations ensure the protection of Better Blend's proprietary assets and maintain a competitive advantage. Franchisees should understand these obligations and implement appropriate measures to safeguard confidential information, as failure to do so could result in legal and financial repercussions.