What is the relationship between the parties involved in The Standardx Confidentiality Agreement?
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obligations hereunder, including but not limited to the financial terms of this Agreement, product and business plans, unpublished financial information, trade secrets, know-how and information regarding processes, information regarding customers, information concerning both successful and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.
This provision will survive the expiration or earlier termination of this Agreement.
Relationship.
Nothing herein contained shall be construed to create an agency, joint venture, partnership or other form of business association between Hyatt, Company, and their respective affiliates, related companies, partners, employees, directors, officers, legal counsel, consultants or accountants hereto.
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 made between Hyatt Franchising, L.L.C., a Delaware limited liability company, and another party referred to as "Company." The document specifies that Hyatt's address is 150 North Riverside Plaza, Chicago, Illinois 60606. Both Hyatt and the Company may be referred to individually as a "party" or together as the "parties."
The agreement outlines that one party may be exposed to confidential or proprietary information belonging to the other party. To protect this information, the agreement designates a "Receiving Party" and a "Disclosing Party." The Receiving Party acknowledges that it may acquire confidential information of the Disclosing Party and agrees to hold such information in strict confidence.
Furthermore, the Receiving Party is permitted to disclose Confidential Information only to its employees who need to know the information and who 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 other than performing its obligations under the agreement. The Receiving Party is also restricted from disclosing the Disclosing Party's Confidential Information to a competitor without prior written consent. This confidentiality provision survives the termination or expiration of the agreement.
The document also states that nothing in the agreement should be construed to create an agency, joint venture, partnership, or other form of business association between Hyatt, the Company, and their respective affiliates, related companies, partners, employees, directors, officers, legal counsel, consultants, or accountants.