Is the confidential information agreement with Engel & Volkers binding on the heirs of the parties involved?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the Confidentiality Agreement is binding upon the parties involved and their respective heirs, administrators, successors, and assigns. This means that the obligations and responsibilities outlined in the agreement extend not only to the original recipient of the confidential information but also to their legal representatives and any entities that take over their rights or responsibilities.

For a prospective Engel & Volkers franchisee, this clause ensures that the confidentiality obligations survive beyond the original party. If the recipient of the confidential information passes away, their heirs or administrators are still legally bound to uphold the terms of the agreement. Similarly, if the recipient's business is sold or transferred, the successors and assigns also inherit these confidentiality obligations.

This provision is designed to protect Engel & Volkers' confidential information and trade secrets, ensuring that they remain protected even in the event of changes in the recipient's circumstances. It reinforces the importance of maintaining confidentiality and underscores the potential legal consequences for any breaches, regardless of who commits them. Franchisees should carefully consider these long-term implications and ensure they have appropriate measures in place to safeguard confidential information.