What is an Associate's obligation regarding Floyds 99's Confidential Information?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
ta | Pending | | Rhode Island | Pending | | South Dakota | Pending | | Virginia | Pending | | Washington | Pending | | Wisconsin | Pending |
| Harassment/Bulling | 28 |
|---|---|
| Other Topics | |
| Staffing | |
| CHAPTER FIVE - MARKETING | |
| Marketing Budgets | 30 |
| National Marketing Contribution | |
| Local Advertising Allocation | |
| Marketing Approval | 30 |
EXHIBIT I (TO DISCLOSURE DOCUMENT)
NONDISCLOSURE AND NONCOMPETITION AGREEMENT
| This Nondisclosure and Noncompetition Agreement (the "Agreement") is made and entered into | ||
|---|---|---|
| effective the day of, 20 by and between Floyd's 99 Franchising, LLC, a Colorado limited | ||
| liability company ("Company"), located at 7900 E. Berry Place, Greenwood Village, CO 80111 and | ||
| resides | at | |
| ("Associate"), | ||
| who | ||
RECITALS
- A. The Company has developed methods for establishing and operating franchises for the operation of retail hair care businesses ("FLOYD'S 99 Shops" or "Barbershops") which use the service mark "FLOYD'S 99" and related service marks, trade names and trademarks ("Marks");
- B. The Company has developed methods for establishing, operating and promoting Barbershops pursuant to the Company's distinctive business format, plans, methods, data, processes, marketing systems, formulas, techniques, designs, layouts, operating procedures, trademarks, proprietary marks and information and know-how of the Company ("Confidential Information") and such Confidential Information as may be further developed from time to time by the Company;
- C. The Company and its affiliates have established substantial goodwill and an excellent reputation with respect to the quality of services and products available, which goodwill and reputation have been and will continue to be of major benefit to the Company;
- D. Assoc
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 FDD, an Associate, defined as someone involved with a Floyds 99 shop as an officer, partner, director, agent, Principal Manager, employee, principal, beneficial owner, or an immediate family member of such persons, acknowledges that they will become privy to Confidential Information. This information includes the company's business format, plans, methods, data, processes, marketing systems, formulas, techniques, designs, layouts, operating procedures, trademarks, proprietary marks, and know-how.
The Associate agrees not to disclose or use this Confidential Information for their own benefit or the benefit of any entity other than Floyds 99 or its shops. This restriction covers any communication to any person, firm, corporation, association, partnership, or other entity. The Confidential Information includes, but is not limited to, client lists, vendor lists, product formulas, and any information in the Operations Manual, as well as any information that gives Floyds 99 an advantage over competitors.
Floyds 99 has invested significant resources in developing this Confidential Information and takes precautions to protect its secrecy. Unauthorized disclosure would cause irreparable harm to Floyds 99, as it would be costly for competitors to duplicate this information. The Associate's agreement to these terms is in consideration of their involvement with Floyds 99 and the mutual promises outlined in the agreement. The confidentiality obligation does not extend to information that is generally available to the public.