What is the definition of 'Intellectual Property' in the context of the Bigfoot Forestry franchise agreement?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
- **3.
INTELLECTUAL PROPERTY & CONFIDENTIAL INFORMATION**.
You agree to: (a) refrain from using the Intellectual Property or Confidential Information in any business or for any purpose other than the operation of Franchisee's Bigfoot Forestry Business; (b) maintain the confidentiality of Confidential Information at all times; (c) refrain from making unauthorized copies of documents containing Confidential Information; (d) take all steps we reasonably require to prevent unauthorized use or disclosure of Confidential Information; and (e) immediately stop using the Intellectual Property and Confidential Information at such time that you are no longer an employee or independent contractor of Franchisee.
You agree to assign to us or our designee, without charge, all rights to any Improvement developed by you, including the right to grant sublicenses.
If applicable law precludes you from assigning ownership to us, then such Improvement shall be perpetually licensed by you to us free of charge, with full rights to use, commercialize and sublicense the same.
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to the 2025 Bigfoot Forestry Franchise Disclosure Document, the confidentiality agreement states that protecting the Intellectual Property is vital to the success of Bigfoot Forestry and its franchisees. The agreement specifies that an employee or independent contractor of a franchisee may gain knowledge of Bigfoot Forestry's system and know-how, and could jeopardize the franchise system if they were to misuse the Intellectual Property.
The agreement requires that the employee or independent contractor agree to refrain from using the Intellectual Property or Confidential Information in any business other than the operation of the franchisee's Bigfoot Forestry Business. They must also maintain the confidentiality of Confidential Information at all times, refrain from making unauthorized copies of documents containing Confidential Information, and take all steps reasonably required to prevent unauthorized use or disclosure of Confidential Information. Furthermore, they must immediately stop using the Intellectual Property and Confidential Information at such time that they are no longer an employee or independent contractor of the franchisee.
Additionally, the agreement stipulates that any Improvement developed by the employee or independent contractor must be assigned to Bigfoot Forestry or its designee, without charge, including the right to grant sublicenses. If applicable law prevents the assignment of ownership, the Improvement must be perpetually licensed to Bigfoot Forestry free of charge, with full rights to use, commercialize, and sublicense it.