What is the name of the agreement being described in this document for Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
EXTREME ART FRANCHISE
SAMPLE SYSTEM PROTECTION AGREEMENT
This System Protection Agreement ("Agreement") is entered into by the undersigned ("you" or "your") in favor of Extreme Art Studio Franchising, LLC, a Minnesota limited liability company, and its successors and assigns ("us", "we" or "our"), upon the terms and conditions set forth in this Agreement.
1. Definitions. For purposes of this Agreement, the following terms have the meanings given to them below:
"Competitive Business" means any business that: (i) any program, facility, or enterprise (whether for profit or otherwise) providing art studios (excluding any Extreme Art Studio Businesses operated under a franchise agreement with us); or (ii) any business granting franchises or licenses to others to operate the type of business specified in part (i).
"Copyrights" means all works and materials for which we or our affiliate have secured common law or registered copyright protection and that we allow franchisees to use, sell, or display in connection with the marketing and/or operation of an Extreme Art Studio Business or the solicitation or offer of an Extreme Art franchise, whether now in existence or created in the future.
"Franchisee" means the Extreme Art franchisee for which you are a manager or officer.
"Franchisee Territory" means the territory granted to you pursuant to a franchise agreement with us.
"Intellectual Property" means, collectively or individually, our Marks, Copyrights, Know-how, and System.
"Know-how" means all of our trade secrets and other proprietary information relating to the development, co
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, one of the agreements described is called the System Protection Agreement. This agreement is entered into by an individual in favor of Extreme Art Studio Franchising, LLC. The System Protection Agreement contains definitions for terms such as 'Competitive Business,' which includes businesses providing art studios or granting franchises to operate similar businesses, excluding Extreme Art Studio Businesses operated under a franchise agreement with them.
The agreement also defines 'Copyrights' as works and materials with common law or registered copyright protection that franchisees are allowed to use, sell, or display. 'Franchisee' refers to the Extreme Art franchisee for whom the individual is a manager or officer, and 'Franchisee Territory' is the territory granted to the franchisee. 'Intellectual Property' collectively refers to the Marks, Copyrights, Know-how, and System, while 'Know-how' includes trade secrets and proprietary information related to the development of the Extreme Art Studio business.
This agreement is designed to protect Extreme Art Studio's intellectual property and system from unauthorized use or competition, ensuring that individuals associated with a franchise understand their obligations regarding confidentiality and non-competition. Prospective franchisees should carefully review this agreement to understand the scope of these restrictions and how they may impact their activities.