Does the Spray Net Confidentiality and Restrictive Covenant Agreement define the term 'Company'?
Spray_Net Franchise · 2025 FDDAnswer from 2025 FDD Document
information even after I cease to be in that position unless I can demonstrate that such information has become generally known or easily accessible other than by the breach of an obligation of Franchisee under the Franchise Agreement.
I will surrender any material containing some or all of the Confidential Information to the Company, upon request, or upon conclusion of the use for which the information or material may have been furnished.
Except as otherwise approved in writing by the Company, I shall not, while in my position with the Franchisee, for myself, or through, on behalf of, or in conjunction with any person, persons, partnership, corporation or limited liability company, own, maintain, engage in, be employed by, or have any interest in any other business that: (i) is a painting service business that is similar to the Franchised Business and/or that features, offers and/or sells products and services similar to the those offered and sold by the Franchised Business and/or other Spray-Net franchises (a "Competing Business"); or (iii) grants or has granted franchises or licenses, or establishes or has established joint ventures, for one or more Competing Businesses.
Source: Item 23 — RECEIPTS (FDD pages 75–219)
What This Means (2025 FDD)
According to Spray Net's 2025 Franchise Disclosure Document, the Confidentiality and Restrictive Covenant Agreement uses the term 'Company.' Specifically, it outlines obligations of individuals who have access to confidential information, even after they are no longer in a position to access that information.
The agreement states that individuals must surrender any material containing confidential information to the Company upon request or when the information is no longer needed. Furthermore, unless approved in writing by the Company, individuals are restricted from engaging in or having an interest in any business similar to Spray Net while they are affiliated with the Franchisee.
These provisions are designed to protect Spray Net's confidential information and prevent unfair competition. Prospective franchisees should carefully review the Confidentiality and Restrictive Covenant Agreement to understand their obligations and restrictions, as well as those of their employees or business partners.