How does the Fast Fix Jewelry And Watch Repairs agreement define 'or'?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
(a) For purposes of this Agreement, the term "Competitive Business" means (i) any retail business offering any of the following goods or services: jewelry or watch repairs, jewelry or watch sales, ring sizing, chain repair and replacement, remounting, engraving, eyeglass frame repair, watch and electronic device repair, and battery replacement as well as custom jewelry design and select gift, jewelry and watch retail product opportunities or any other goods or services of Franchisees that are then authorized for Franchisor's System, or (ii) any business granting franchises or licenses to others to operate the type of business specified in subparagraph.
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
According to Fast Fix Jewelry And Watch Repairs' 2025 Franchise Disclosure Document, the term "or" is used within the context of defining a "Competitive Business" in the Non-Competition section of the agreement. A "Competitive Business" includes retail businesses offering jewelry or watch repairs, sales, ring sizing, chain repair, remounting, engraving, eyeglass frame repair, watch and electronic device repair, and battery replacement. It also encompasses custom jewelry design, select gift, jewelry and watch retail product opportunities, or any other goods or services that Fast Fix Jewelry And Watch Repairs franchisees are authorized to offer within the system. Additionally, the definition extends to any business that grants franchises or licenses to others to operate a similar type of business, excluding Fast Fix Jewelry & Watch Repairs businesses operating under a franchise agreement with the company itself.
This definition is important because it outlines the scope of activities that a franchisee is restricted from engaging in during and after the term of the franchise agreement. The inclusion of "or" broadens the definition, meaning that a business is considered competitive if it offers any one of the listed services or goods, or if it franchises a similar business. This prevents franchisees from circumventing the non-compete clause by engaging in even a subset of the services offered by Fast Fix Jewelry And Watch Repairs.
For a prospective franchisee, this means they need to be aware of the wide range of activities that are considered competitive. Even if they don't directly compete in all areas, offering just one of the listed services could be a violation of the non-compete agreement. This could limit their future business opportunities, especially if they decide to leave the Fast Fix Jewelry And Watch Repairs system. It is advisable for potential franchisees to carefully review this section of the agreement with legal counsel to fully understand the implications of the non-compete clause and how it might affect their future business endeavors.