When does the Pearce Bespoke Guaranty terminate?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
g this Agreement or exercising any of Franchisor's rights under this Agreement.
9. CONFIDENTIAL INFORMATION
A. Non-Disclosure of Confidential Information.
Franchisee and those individuals who have signed the Personal Guaranty attached hereto as Attachment B agree to use and permit the use of Franchisor's Confidential Information (as defined below) solely in connection with the operation of the Pearce Bespoke Franchise. Franchisee and Personal Guarantors further agree that they will never, during the initial term or any renewal term of this Agreement, or any time after this or any renewal Franchise Agreement expires or terminates, or Franchisee's rights under this Agreement or any renewal Franchise Agreement are assigned or terminated, divulge or use any of Franchisor's Confidential Information for the benefit of any third party (including any person, business entity or enterprise of any type or nature), nor will Franchisee or Personal Guarantors directly or indirectly aid such third party to imitate, duplicate or "reverse engineer" any of Franchisor's Confidential Information. "Confidential Information" means all information, knowledge, trade secrets, or know-how utilized by the Business System, or which otherwise concerns Franchisee's or Franchisor's systems of operation, programs, services, products, customers, practices, materials, books, records, manuals, computer files, databases, or software. Confidential Information includes (without limitation): all elements of the Business System and all products, services, equipment, technologies, policies, standards, requirements, criteria and procedures that now or in the future are part of the Business System; Franchisor's Operations Manual (including supplements to the Manual); all specifications, sources of supply, all procedures, systems, techniques and activities employed by Franchisor or Franchisee in the offer and sale of products and or services at the Pearce Bespoke Franchise; all pricing paradigms established by Franchisor or by Franchisee; all of Franchisor's and/or Franchisee's sources (or prospective sources) of supply and all information pertaining to same (including wholesale pricing structures, the contents of sourcing agreements and identity of suppliers); Franchisor's specifications, and Franchisee's final plans, for the construction, build-out, design, renovation, décor, equipment, signage, furniture, items and trade dress elements of the Pearce Bespoke Franchise; the identity of, and all information relating to, the computer and DRS POS hardware and software utilized by Franchisor and Franchisee;
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke FDD, the Personal Guaranty terminates when the Franchise Agreement expires or terminates. Franchisees and those individuals who have signed the Personal Guaranty agree to use the franchisor's Confidential Information solely in connection with the operation of the Pearce Bespoke Franchise. This obligation extends not only during the initial and any renewal terms of the agreement but also at any time after the agreement expires or terminates, or the franchisee's rights are assigned or terminated.
Pearce Bespoke franchisees and personal guarantors must not divulge or use any of the franchisor's Confidential Information for the benefit of any third party, nor aid any third party in imitating, duplicating, or reverse engineering the franchisor's Confidential Information. This restriction is in place to protect the franchisor's trade secrets and operational methods. Confidential Information includes all information, knowledge, trade secrets, or know-how utilized by the Business System, or which otherwise concerns franchisee's or franchisor's systems of operation, programs, services, products, customers, practices, materials, books, records, manuals, computer files, databases, or software.
Upon the expiration or termination of the Franchise Agreement, franchisees and personal guarantors must return to Pearce Bespoke such Confidential Information as Pearce Bespoke requests, including customer lists and records, training materials, financial and non-financial books and records, the Manual, and computer databases, software and manuals. Alternatively, upon Pearce Bespoke's request, franchisees and personal guarantors must destroy all or certain Confidential Information and certify such destruction to Pearce Bespoke. All customer lists or information adduced by the Pearce Bespoke Franchise is Pearce Bespoke's property, not the property of franchisee or personal guarantors. Pearce Bespoke may use this information to market to franchisee's customers during and after the term of the Franchise Agreement.