Who owns the confidential information related to a Crown Gold Exchange franchise?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
ed or approved in writing by Crown Gold 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 Crown Gold Franchising or its affiliates (except for Confidential Information which Crown Gold Franchising licenses from another person or entity). Guarantor acknowledges that all customer data generated or obtained by Guarantor is Confidential Information belonging to Crown Gold Franchising. This Section will survive the termination or expiration of the Franchise Agreement indefinitely.
3. Covenants Not to Compete.
- (a) Restriction In Term. During the term of the Franchise Agreement, Guarantor shall not directly or indirectly have any ownership interest in, lend money or provide financial assistance to, provide any services to, or be employed by, any Competitor.
- (b) Restriction Post Term. For two years after the Franchise Agreement expires or is terminated for any reason (or, if applicable, for two years after a Transfer by Guarantor), Guarantor shall not directly or indirectly have any ownership interest in, lend money or provide financial assistance to, provide any services to, or be employed by, any Competitor located within five miles of Franchisee's Territory or the territory of any other Crown Gold Exchange business operating on the date of termination or transfer, as applicable. If the Franchise Agreement is terminated before the Territory is determined, then the area of non-competition will the Development Area and the territory of any other Crown Gold Exchange business operating on the date of termination.
- (c) Interpretation.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Crown Gold Exchange Franchise Disclosure Document, Crown Gold Franchising owns the confidential information related to the franchise. This includes customer data generated or obtained by the franchisee. The franchisee acknowledges that all confidential information is owned by Crown Gold Franchising, except for information that Crown Gold Franchising licenses from another entity.
As a Crown Gold Exchange franchisee, you must adhere to specific procedures to maintain the confidentiality of this information. You can only disclose the information to your employees to the extent necessary for business operations. The franchisee is prohibited from using the confidential information in any other business or manner not specifically authorized by Crown Gold Franchising.
The franchisee must exercise diligence to protect the confidentiality of all such information during and after the franchise agreement. Copying or reproducing any confidential information is prohibited, and any unauthorized disclosure or use of confidential information must be promptly reported. These obligations regarding confidential information survive the termination or expiration of the Franchise Agreement indefinitely.
Furthermore, all customer data and other non-public data generated by the Crown Gold Exchange business is considered confidential information and is exclusively owned by Crown Gold Franchising. Crown Gold Franchising licenses such data back to the franchisee without charge, solely for the franchisee's use in connection with the business during the term of the agreement.