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

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 rights outlined in the agreement extend not only to Engel & Volkers and the recipient of confidential information but also to their legal successors.

For a prospective Engel & Volkers franchisee, this implies that if the franchise is transferred through inheritance or other means, the new owner will also be bound by the terms of the Confidentiality Agreement. This ensures that the confidential information remains protected even if the original parties to the agreement are no longer directly involved. Engel & Volkers' rights and remedies under the agreement are fully assignable and transferable and will benefit its affiliates, successors, and assigns.

However, the recipient's obligations cannot be assigned without Engel & Volkers' prior written consent. This provision protects Engel & Volkers by ensuring that the party responsible for maintaining confidentiality cannot transfer this responsibility to another party without the franchisor's approval. This clause is designed to maintain control over who has access to and is responsible for protecting Engel & Volkers' confidential information.