What is the full name of the entity that Cinch I.T. franchisees enter into a franchise agreement with?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
hisor from time to time ("Trade Secrets");
WHEREAS, Franchisor's Trade Secrets provide economic advantages to Franchisor and are not generally known to or readily ascertainable by proper means by Franchisor's competitors who could obtain economic value from knowledge and use of Franchisor's Trade Secrets;
WHEREAS, Franchisor has taken and intends to take all reasonable steps to maintain the confidentiality and secrecy of Franchisor's Trade Secrets;
WHEREAS, Franchisor and Franchisee desire to enter into a Franchise Agreement which will grant Franchisee a limited right to operate a Franchised Business within a territory using CINCH I.T. SYSTEM and Franchisor's Trade Secrets for a period defined in the Franchise Agreement ("Franchise Agreement");
WHEREAS, Franchisor and Franchisee have agreed in the Franchise Agreement on the importance to Franchisor and to Franchisee and other licensed users of CINCH I.T. SYSTEM of restricting use, access and dissemination of Franchisor's Trade Secrets; and
WHEREAS, it is anticipated that Signer may have access to learn Franchisor's Trade Secrets as Franchisee develops and maintains Franchisee's Business using CINCH I.T. SYSTEM.
NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein, the parties agree as follows:
-
- Franchisee may disclose to Signer some or all of Franchisor'
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
Based on the 2024 Franchise Disclosure Document, Cinch I.T. franchisees enter into a franchise agreement with the Franchisor. The document refers to the agreement as the "Franchise Agreement" and specifies that it is signed by both the Franchisor and the Multi-Unit Developer or its approved affiliate. This agreement grants the franchisee a limited right to operate a franchised business within a specific territory, utilizing the Cinch I.T. system and the franchisor's trade secrets for a defined period.
The FDD emphasizes the importance of restricting the use, access, and dissemination of the franchisor's trade secrets, highlighting that the signer may have access to these secrets as the franchisee develops and maintains their business using the Cinch I.T. system. The agreement outlines the terms and conditions necessary to maintain uniform standards of quality and service, protecting the goodwill associated with the licensed rights.
Furthermore, the Franchise Agreement includes details about the territory assigned to the franchisee, as described in Addendum A. The franchisor grants the franchisee the right to establish and operate a Cinch I.T. franchise and use the licensed rights associated with the franchised business. The agreement also specifies that each Cinch I.T. Franchised Business will be governed by and operated according to the terms of the individual franchise agreement signed by the Franchisor.