What implied warranties does Kidokinetics specifically disclaim?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
idence conclusively showing you did not disclose the Intellectual Property to the family member.
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- Covenants Reasonable. You acknowledge and agree that: (i) the terms of this Agreement are reasonable both in time and in scope of geographic area; and (ii) you have sufficient resources and business experience and opportunities to earn an adequate living while complying with the terms of this Agreement. YOU HEREBY WAIVE ANY RIGHT TO CHALLENGE THE TERMS OF THIS AGREEMENT AS BEING OVERLY BROAD, UNREASONABLE, OR OTHERWISE UNENFORCEABLE.
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- Breach. You agree that failure to comply with this Agreement will cause substantial and irreparable damage to us and/or other Kidokinetics franchisees for which there is no adequate remedy at law. Therefore, you agree that any violation of this Agreement will entitle us to injunctive relief. You agree that we may apply for such injunctive relief, without bond, but upon due notice, in addition to such further and other relief as may be available at equity or law, and the sole remedy of yours, in the event of the entry of such injunction, will be the dissolution of such injunction, if warranted, upon hearing duly held (all claims for damages by reason of the wrongful issuance of any such injunction being expressly waived hereby). If a court requires the filing of a bond notwithstanding the preceding sentence, the parties agree that the amount of the bond shall not exceed $1,000. None of the remedies available to us under this Agreement are exclusive of any other, but may be combined with others under this Agreement, or at law or in equity, including injunctive relief, specific performance, and recovery of monetary damages. Any claim, defense, or cause of action you may have against us or against Franchisee, rega
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
Based on the 2024 Kidokinetics Franchise Disclosure Document, the franchisee waives any right to challenge the terms of the confidentiality agreement as being overly broad, unreasonable, or otherwise unenforceable. This waiver is part of a broader agreement where the franchisee acknowledges that the terms of the confidentiality agreement are reasonable in both time and geographic scope. They also acknowledge having sufficient resources, business experience, and opportunities to earn an adequate living while adhering to the agreement's terms.
This waiver has significant implications for a prospective Kidokinetics franchisee. By agreeing to it, the franchisee gives up the ability to argue that the confidentiality terms are unfair or too restrictive. This could limit their future business activities, especially if they decide to leave the Kidokinetics franchise system. The franchisee is essentially accepting the franchisor's judgment on what is reasonable and enforceable.
The franchisee also acknowledges that failure to comply with the confidentiality agreement will cause substantial and irreparable damage to Kidokinetics and its franchisees, for which there is no adequate remedy at law. Consequently, Kidokinetics is entitled to injunctive relief for any violation of the agreement. This means Kidokinetics can seek a court order to stop the franchisee from breaching the agreement, in addition to any other legal remedies available. The franchisee's sole remedy, in the event of such an injunction, is to seek its dissolution if warranted, with any claims for damages due to wrongful issuance being expressly waived.
This clause underscores the importance Kidokinetics places on protecting its intellectual property and confidential information. Prospective franchisees should carefully consider the implications of waiving their right to challenge the confidentiality agreement, as it could significantly impact their future business endeavors and legal options.