What is the purpose of the Confidentiality Agreement for The Standardx?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
| This CONFIDENTIALITY AGREEMENT (this "Agreement") is made as of this day of | |
|---|---|
| ,, by and between, a[n], whose | |
| address is ("Company") and HYATT FRANCHISING, L.L.C., a | |
| Delaware limited liability company, whose address is 150 North Riverside Plaza, Chicago, Illinois 60606 | |
| ("Hyatt"). Hyatt and/or Company may each also be referred to herein as a "party" or collectively as the "parties" |
6. Confidentiality.
- a.
Each party (a "Receiving Party") acknowledges that it and its employees, subcontractors or agents may, in the course of satisfying its obligations hereunder, be exposed to or acquire information that is proprietary to or confidential to the other party (a "Disclosing Party").
Any and all confidential information of any form obtained by a Receiving Party or its employees, subcontractors or agents in the performance of the Services or the satisfaction of such party's obligations hereunder, including but not limited to the financial terms of this Agreement, product and business plans, unpublished financial information, trade secrets, know-how and information regarding processes, information regarding customers, information concerning both successful and unsuccessful tests and ideas and technologies, and any reports, materials, program materials, software, flowcharts, notes, outlines and the like, used, created or developed by Hyatt or its affiliates in connection herewith ("Work Product") shall be deemed to be the confidential and proprietary information ("Confidential Information") of the Disclosing Party.
The Receiving Party agrees (i) to hold all Confidential Information in strict confidence; (ii) to disclose Confidential Information only to employees of the Receiving Party who have a need to know such Confidential Information and who are advised to hold such Confidential Information in strict confidence; and (iii) not to copy, reproduce, sell, assign, license, market, transfer or otherwise dispose of, give or disclose such Confidential Information to third parties, or to use such Confidential Information for any purposes whatsoever other than in connection with the Receiving Party's performance under this Agreement.
Notwithstanding anything in this Agreement, the Receiving Party shall not copy, reproduce, sell, assign, license, market, transfer or otherwise dispose of, give or disclose the Disclosing Party's Confidential Information to a competitor of the Disclosing Party without the prior written consent of the Disclosing Party.
In addition, Owner acknowledges it does not have right, title, interest or copyright in any Work Product or Hyatt Confidential Information, nor any license to use, sell, exploit, copy or further develop such Work Product or Confidential Information.
This provision will survive the expiration or earlier termination of this Agreement.
- b.
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the Confidentiality Agreement is designed to protect proprietary or confidential information that one party (the Receiving Party) may be exposed to or acquire from the other party (the Disclosing Party). This agreement ensures that sensitive information, such as financial terms, business plans, trade secrets, customer data, and other business-related information, remains protected. The agreement applies to the receiving party and its employees, subcontractors, or agents.
The Confidentiality Agreement mandates that the Receiving Party must hold all Confidential Information in strict confidence. Disclosure is limited only to employees who need to know the information and are advised to maintain its confidentiality. The Receiving Party is prohibited from copying, reproducing, selling, assigning, licensing, marketing, transferring, or disclosing the Confidential Information to third parties, or using it for any purpose outside of their performance under the agreement. A key restriction is that the Receiving Party cannot disclose The Standardx's Confidential Information to a competitor without prior written consent.
Furthermore, the agreement clarifies that the owner does not have any right, title, interest, or copyright in any Work Product or The Standardx Confidential Information, nor any license to use, sell, exploit, copy, or further develop such information. This provision remains in effect even after the agreement expires or is terminated. The Confidentiality Agreement aims to safeguard The Standardx's competitive advantage and proprietary assets by preventing unauthorized use or disclosure of its sensitive business information.