To whom can the Guarantor disclose confidential information related to the Bombs Away franchise?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
With respect to all Confidential Information Guarantor shall (a) adhere to all security procedures prescribed by Bombs Away Franchising 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 or approved in writing by Bombs Away Franchising, (d) exercise the highest degree of diligence and make every effort to maintain the confidentiality of all such information during and after the term of the Franchise Agreement, (e) not copy or otherwise reproduce any Confidential Information, and (f) promptly report any unauthorized disclosure or
use of Confidential Information. Guarantor acknowledges that all Confidential Information is owned by Bombs Away Franchising or its affiliates (except for Confidential Information which Bombs Away Franchising licenses from another person or entity). Guarantor acknowledges that all customer data generated or obtained by Guarantor is Confidential Information belonging to Bombs Away Franchising. This Section will survive the termination or expiration of the Franchise Agreement indefinitely.
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to Bombs Away's 2024 Franchise Disclosure Document, the Guarantor can disclose confidential information only to its employees, and only to the extent necessary for the operation of the Bombs Away business. The Guarantor must adhere to all security procedures prescribed by Bombs Away for maintaining confidentiality.
The Guarantor is explicitly prohibited from using confidential information in any other business or in any manner not specifically authorized or approved in writing by Bombs Away. This restriction is in place to protect Bombs Away's proprietary information and maintain a competitive advantage.
The Guarantor is also required to exercise the highest degree of diligence and make every effort to maintain the confidentiality of all such information both during and after the term of the Franchise Agreement. They are prohibited from copying or reproducing any confidential information and must promptly report any unauthorized disclosure or use of confidential information to Bombs Away. This obligation extends indefinitely, even after the termination or expiration of the Franchise Agreement.