What is the name of the franchisor in the sample release agreement for Canopy Lawn Care?
Canopy_Lawn_Care Franchise · 2025 FDDAnswer from 2025 FDD Document
THIS ASSIGNMENT is entered into this day of 20, in accordance with the terms of the Canopy® Franchise Agreement ("Franchise Agreement") between ("Franchisee") and CANOPY FRANCHISE CORPORATION, ("Franchisor"), executed concurrently with this Assignment, under which Franchisor granted Franchisee the right to own and operate a Lawn Care Business located at FOR VALUE RECEIVED, Franchisee hereby assigns to Franchisor (1) those certain telephone numbers and regular, classified or other telephone directory listings (collectively, the "Telephone Numbers and Listings") and (2) those certain Internet website addresses ("URLs") associated with Franchisor's trade and service marks and used from time to time in connection with the operation of the Lawn Care Business, as defined in the Franchise Agreement, at the address provided above. This Assignment is for collateral purposes only and, except as specified herein, Franchisor shall have no liability or obligation of any kind whatsoever arising from or in connection with this Assignment, unless Franchisor shall notify the telephone company and/or the listing agencies with which Franchisee has placed telephone directory listings (all such entities are collectively referred to herein as "Telephone Company") and/or Franchisee's internet service provider ("ISP") to effectuate the assignment pursuant to the terms hereof.
Source: Item 22 — CONTRACTS (FDD page 55)
What This Means (2025 FDD)
According to the 2025 Canopy Lawn Care Franchise Disclosure Document, the franchisor listed in the sample release agreement is Canopy Franchise Corporation. This agreement, as detailed in Attachment E, is executed concurrently with the Franchise Agreement, outlining the terms under which the franchisee is granted the right to operate a Canopy Lawn Care business.
The Collateral Assignment of Telephone Numbers and Telephone Listings and Internet Addresses specifies that the franchisee assigns telephone numbers, directory listings, and URLs associated with Canopy Lawn Care's trademarks to Canopy Franchise Corporation. This assignment serves as collateral, with Canopy Franchise Corporation having the right to effectuate the assignment upon termination or expiration of the Franchise Agreement, ensuring the continued use of these assets by the franchisor.
This arrangement is typical in franchising, where the franchisor maintains control over key brand identifiers and assets. For a prospective Canopy Lawn Care franchisee, this means that upon leaving the system, they must relinquish control of any phone numbers or internet addresses associated with the brand, ensuring a clean break and protecting the franchisor's brand identity.