What must an Extreme Art Studio franchisee do to assign rights to Innovations to the franchisor?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
The Intellectual Property is and shall continue to be the sole property of Extreme Art Studio Franchising, LLC. You hereby assign and agree to assign to us any rights you may have or may acquire in such Intellectual Property. Upon the termination of your employment or engagement with Franchisee, or at any time upon our or Franchisee's request, you will deliver to us or to Franchisee all documents and data of any nature pertaining to the Intellectual Property, and you will not take with you any documents or data or copies containing or pertaining to any Intellectual Property.
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio FDD, any intellectual property developed by a franchisee during their engagement with Extreme Art Studio must be assigned to the franchisor. Specifically, the franchisee agrees to assign any rights they may have or acquire in such intellectual property to Extreme Art Studio Franchising, LLC.
Upon termination of employment or engagement with the franchisee, or at any time upon the request of Extreme Art Studio or the franchisee, all documents and data pertaining to the intellectual property must be delivered to Extreme Art Studio or the franchisee. The franchisee is prohibited from taking any documents, data, or copies containing or pertaining to any intellectual property with them.
This clause ensures that all intellectual property rights remain with Extreme Art Studio, which is a common practice in franchising to protect the brand's assets and maintain uniformity across the franchise system. A prospective franchisee should understand that any innovations or creative work developed during their time as a franchisee will become the property of Extreme Art Studio.