Does Fitstop consider the financial details of its relationships with agents, suppliers, or customers to be confidential information?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
es, promotional methods and techniques, and marketing methods and techniques of the Franchise System. We claim proprietary trade secret rights in information like lists and files, and other compilations of information pertaining to the Franchise System, which information includes (a) our manuals and forms, the information contained and compiled in the manuals and forms, and the updates and memoranda relating to the manuals and forms; (b) names of our agents, suppliers, and customers, and their requirements, specifications, and preferences; (c) the contractual arrangements between us and our agents, suppliers, and customers; (d) the financial details (including but not limited to credit and discount terms) of our relationship with our agents, suppliers, or customers; (e) the names of prospective customers and their requirements, specifications, and preferences; (f) information concerning the remuneration paid by us to our employees; (g) our computer software and any part of its coding; (h) information concerning and presented at our meetings; (i) security and access information; (j) information provided through initial and ongoing specialized training; (k) our business plans and strategies; and (l) similar information. All such lists, files, other compilations of
information, and the information contained in such materials (whether or not denoted, labeled, or marked as confidential) is considered confidential and will be and remain our exclusive property, even if compiled or developed by you in connection with your business under this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, the financial details of its relationships with agents, suppliers, and customers are considered confidential information. Fitstop claims proprietary trade secret rights in information pertaining to the Franchise System. This includes financial details such as credit and discount terms in its relationships with agents, suppliers, and customers.
As a Fitstop franchisee, you are obligated to treat this information as confidential, taking precautions to prevent its dissemination to the public. This obligation extends whether or not Fitstop explicitly marks the information as confidential. You acknowledge that all confidential information provided to you or your employees remains Fitstop's property.
This means that as a franchisee, you must protect this information and not disclose it to unauthorized parties. This includes maintaining the confidentiality of pricing, credit terms, and any other financial arrangements Fitstop has with its suppliers, agents, and customers. Failure to comply with these confidentiality requirements could result in legal and financial repercussions, as it would be a breach of the franchise agreement.