Is the confidential information agreement binding upon the assigns of Engel & Volkers?

According to Engel & Volkers' 2025 Franchise Disclosure Document, the Confidentiality Agreement is binding upon Engel & Volkers and their assigns. The agreement specifies that the rights and remedies of Engel & Volkers under the agreement are fully assignable and transferable and will inure to the benefit of its respective affiliates, successors, and assigns. However, the recipient's obligations under the agreement may not be assigned without the prior written consent of Engel & Volkers.

This means that Engel & Volkers can transfer its rights and benefits under the Confidentiality Agreement to another party, such as a company that acquires Engel & Volkers. The new party would then be able to enforce the agreement against the recipient. However, the recipient, such as a potential franchisee, cannot transfer their obligations under the agreement to someone else without Engel & Volkers's permission. This ensures that Engel & Volkers maintains control over who is bound by the confidentiality obligations.

This clause is designed to protect Engel & Volkers's confidential information even if the company undergoes changes in ownership or structure. It ensures that the obligations to protect confidential information remain in place, regardless of who controls Engel & Volkers. For a prospective franchisee, this means they must maintain confidentiality and cannot transfer this obligation without explicit approval from Engel & Volkers.