In the Learningrx Franchise Agreement, who are the two parties entering into the agreement?
Learningrx Franchise · 2025 FDDAnswer from 2025 FDD Document
| Current taxes are computed using the | cash basis of accounting. | Current | taxable net income | (loss) was | |---|---|---|---|---| | $14,689 and $25,496 for the years ended | September 30, 2023 | and 2022, | respectively. As of September | 30, | | 2023,theCorporationhasfederalnetoperatinglosses(NOL)tobecarried | | | tofuture yearsofapproximately | | | $1,180,000 and $1,158,000, for the years | ended September | 30, 2023 | and 2022, respectively. | Deferred |
ATTACHMENT VIII(b) to FRANCHISE AGREEMENT
SPOUSAL AND DOMESTIC PARTNER CONFIDENTIALITY and COVENANT NOT TO COMPETE AGREEMENT
Instructions: This "Spousal and Domestic Partner Confidentiality and Covenant Not to Compete Agreement" must be completed and signed by the spouses or domestic partners of the equity owners of the Franchisee. The signed original(s) of the Agreement must then be immediately delivered to the Franchisor by the Franchisee.
| This Agreement is made and entered into between LearningRx Franchise Corporation, ("Franchisor"), ("Franchisee"), and ("Spousal Affiliate"). | |
Source: Item 23 — RECEIPT (FDD pages 54–209)
What This Means (2025 FDD)
According to the 2025 Learningrx Franchise Disclosure Document, the parties entering into the standard Franchise Agreement are LearningRx Franchise Corporation, as the Franchisor, and the Franchisee. This establishes the legal relationship where Learningrx grants the franchisee the right to operate a Learningrx business using their system, licensed marks, and trade secrets.
Additionally, a "Spousal Affiliate" may also be listed as a party to the agreement.
It is important for prospective franchisees to understand that the agreement binds them to certain obligations and responsibilities, while Learningrx is obligated to provide the support and resources outlined in the agreement. Franchisees should carefully review the entire agreement, ideally with legal counsel, to fully understand their rights and obligations before signing.