What is Devon Creek's definition of 'Confidential Information'?
Devon_Creek Franchise · 2024 FDDAnswer from 2024 FDD Document
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.
Source: Item 14 — PATENTS, COPYRIGHTS AND PROPRIETARY INFORMATION (FDD pages 35–36)
What This Means (2024 FDD)
According to the 2024 Devon Creek Franchise Disclosure Document, 'Confidential Information' encompasses 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. This information provides economic advantages to Devon Creek and its licensed users, including franchisees.
Devon Creek emphasizes the importance of restricting the use, access, and dissemination of this Confidential Information. Franchisees are required to obtain a written agreement from individuals (Covenantors) protecting the Confidential Information and safeguarding the System against unfair competition. This agreement acknowledges that the right to use the Confidential Information constitutes valuable consideration for the commitments made by the Covenantor.
In practical terms, this means that as a Devon Creek franchisee, you and your employees will have access to sensitive business information that is not available to the general public. You are obligated to protect this information and ensure that it is only used for the operation of your franchise. Failure to maintain the confidentiality of this information could result in legal action and damage to the Devon Creek brand. Prospective franchisees should carefully review the confidentiality agreements and understand their obligations before investing in a Devon Creek franchise.