What is the acknowledgement of the Developer and each Principal regarding the Goldfish Swim School agreement, related documents, exhibits, and schedules?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
- H.
Developer and each Principal acknowledge that each has received a complete copy of this Agreement, the documents referred to herein and the Exhibits hereto at least seven (7) days prior to the date on which this Agreement was executed.
Developer and each Principal further acknowledge that each has received our Franchise Disclosure Document at least fourteen (14) days prior to the date on which this Agreement was executed.
- (9) Developer and Principal Owners, and Developer's officers, directors, shareholders, partners, members and managers, (if any) acknowledge that their respective entire knowledge of the operation of a Goldfish Swim School® Swim school and the System, including without limitation the knowledge or know-how regarding the specifications, standards and operating procedures of the services and activities, is derived from information we disclose to you and that certain information is proprietary, confidential, and constitutes our trade secrets.
You and your Principal Owners, officers, directors, shareholders, partners, members, and managers (if any), jointly and severally, agree that at all times during and after the Term of this Agreement, you will maintain the absolute confidentiality of all such proprietary information and will not disclose, copy, reproduce, sell or use any such information in any other business or in any manner not specifically authorized or approved in advance in writing by us.
We require that you obtain nondisclosure and confidentiality agreements and covenants not to compete in a form satisfactory to us from the individuals listed in the first sentence of this paragraph and other key employees.
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School FDD, the Developer and each Principal acknowledge several key points regarding the Area Development Agreement, related documents, and exhibits.
First, they acknowledge receiving a complete copy of the agreement, all referenced documents, and exhibits at least seven days before the agreement's execution. This provides a review period to seek legal counsel and fully understand the obligations. They also acknowledge receiving the Franchise Disclosure Document (FDD) at least fourteen days before signing, as mandated by franchise regulations. This waiting period is designed to protect prospective franchisees by ensuring they have adequate time to review the FDD and make an informed decision.
Second, the Developer and Principal Owners acknowledge that their knowledge of the Goldfish Swim School operation and system is derived from information disclosed by Goldfish Swim School Franchising, LLC. They recognize that certain information is proprietary, confidential, and constitutes trade secrets. This includes specifications, standards, and operating procedures.
Finally, they agree to maintain the absolute confidentiality of all proprietary information during and after the agreement's term. They are prohibited from disclosing, copying, reproducing, selling, or using this information in any other business or manner without prior written authorization from Goldfish Swim School Franchising, LLC. Goldfish Swim School also requires nondisclosure and non-competition agreements from the individuals listed and other key employees.