What is the Company's obligation to the Associate regarding Confidential Information for Floyds 99?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
NOW THEREFORE, in consideration of the foregoing, the mutual promises contained herein and other good and valuable consideration, the receipt and sufficiency of which are acknowledged, Associate and the Company, intending legally to be bound, agree as follows:
1. Confidential Information. Associate and the Company acknowledge that the distinctive business format, plans, methods, data, processes, marketing systems, manuals, product formulas, techniques, designs, layouts, operating procedures, trademarks, proprietary marks and information and know-how of the Company which are developed and utilized in connection with the operation of the Franchise are the Company's Confidential Information. Such Confidential Information is unique, exclusive property and a trade secret of the Company. Associate acknowledges that any unauthorized disclosure or use of the Confidential Information would be wrongful and would cause irreparable injury and harm to the Company. Associate further acknowledges that the Company has expended a great amount of effort and money in obtaining and developing the Confidential Information, that the Company has taken numerous precautions to guard the secrecy of the Confidential Information and that it would be very costly for competitors to acquire or duplicate the Confidential Information.
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Associate and the Company both acknowledge that the distinctive business format, plans, methods, data, processes, marketing systems, manuals, product formulas, techniques, designs, layouts, operating procedures, trademarks, proprietary marks, information, and know-how of the Company are considered Confidential Information. This Confidential Information is recognized as unique, exclusive property, and a trade secret of the Company.
The Associate acknowledges that any unauthorized disclosure or use of this Confidential Information would be wrongful and cause irreparable injury and harm to Floyds 99. The Associate also recognizes that Floyds 99 has invested significant effort and money in obtaining and developing this Confidential Information and has taken numerous precautions to protect its secrecy.
This agreement emphasizes the importance of protecting Floyds 99's proprietary information, highlighting the potential damage that could result from its unauthorized disclosure or use. For a prospective franchisee, this underscores the need to maintain strict confidentiality regarding all aspects of the Floyds 99 business model and operations.