What is considered 'Confidential Information' for a Devon Creek franchise?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 22: CONTRACTS]
WHEREAS, in connection with his or her duties, it will be necessary for Covenantor to have access to some or all of the confidential information, knowledge, know-how, techniques, contents of the Devon Creek Franchise Group operations manual and other materials used in or related to the System and/or concerning the methods of operation of the System (collectively referred to as "Confidential Information");
WHEREAS, the Confidential Information provides economic advantages to Franchisor and licensed users of the System, including Franchisee;
WHEREAS, Franchisee has acknowledged the importance of restricting the use, access and dissemination of the Confidential Information, and Franchisee therefore has agreed to obtain from Covenantor a written agreement protecting the Confidential Information and further protecting the System against unfair competition; and
WHEREAS, Covenantor acknowledges that receipt of and the right to use the Confidential Information constitutes independent valuable consideration for the representations, promises and covenants made by Covenantor herein.
NOW, THEREFORE, in consideration of the mutual covenants and obligations contained herein, the parties agree as follows:
1. Confidentiality Agreement.
Source: Item 22 — CONTRACTS (FDD page 45)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, Confidential Information includes access to confidential information, knowledge, know-how, techniques, contents of the Devon Creek Franchise Group operations manual and other materials used in or related to the System and/or concerning the methods of operation of the System.
Devon Creek emphasizes that this Confidential Information provides economic advantages to both the franchisor and its franchisees. Franchisees must acknowledge the importance of restricting the use, access, and dissemination of this information. This acknowledgment is formalized through a written agreement that protects the Confidential Information and safeguards the Devon Creek system against unfair competition.
Covenantors, who are individuals associated with the franchisee and have access to Confidential Information, also recognize that receiving and using this information constitutes valuable consideration for their commitments. This underscores the importance Devon Creek places on protecting its proprietary information and ensuring that all parties involved understand their obligations to maintain confidentiality.