Are the rights and remedies of Engel & Volkers under the confidential information agreement assignable?
Engel_Volkers Franchise · 2025 FDDAnswer from 2025 FDD Document
Recipient understands that the rights and remedies of Engel & Völkers under this Agreement are fully assignable and transferable and will inure to the benefit of its respective affiliates, successors and assigns.
Recipient further understands and agrees that Recipient's obligations hereunder may not be assigned by Recipient without the prior written consent of Engel & Völkers.
Source: Item 23 — RECEIPTS (FDD pages 88–302)
What This Means (2025 FDD)
According to Engel & Volkers' 2025 Franchise Disclosure Document, the rights and remedies that Engel & Volkers has under the Confidentiality Agreement are fully assignable and transferable. This means Engel & Volkers can transfer its rights and remedies to its affiliates, successors, and assigns.
For a prospective Engel & Volkers franchisee, this clause in the Confidentiality Agreement means that the obligations to protect confidential information extend not only to Engel & Volkers itself but also to any entity to whom Engel & Volkers might assign its rights. This could include a parent company, a subsidiary, or another company that acquires Engel & Volkers.
The franchisee's obligations under the agreement, however, cannot be assigned without the prior written consent of Engel & Volkers, ensuring that Engel & Volkers retains control over who assumes the franchisee's responsibilities.