In the Floyds 99 Nondisclosure and Noncompetition Agreement, what is the defined term for the individual entering into the agreement with Floyd's 99 Franchising, LLC?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| 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 | ||
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the individual entering into the Nondisclosure and Noncompetition Agreement with Floyd's 99 Franchising, LLC is referred to as "Associate". This agreement is designed to protect Floyds 99's confidential information and prevent unfair competition.
For a prospective Floyds 99 franchisee, understanding the implications of this agreement is crucial. The definition of "Associate" clarifies who is bound by the terms of the Nondisclosure and Noncompetition Agreement. This agreement likely outlines restrictions on sharing proprietary information and engaging in competitive activities during and after the franchise term.
It is important for potential franchisees to carefully review the Nondisclosure and Noncompetition Agreement (Exhibit I) to fully understand their obligations and restrictions. They should seek legal counsel to ensure they comprehend the terms and potential consequences of violating the agreement. This due diligence can help avoid future disputes and ensure a smooth franchise operation with Floyds 99.