Does the text outline any prohibited actions related to The Standardx Confidentiality Agreement?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
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.
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 outlines several prohibited actions for the receiving party. The receiving party agrees to hold all Confidential Information in strict confidence. They are only allowed to disclose Confidential Information to employees who need to know it and who are advised to keep it confidential.
The agreement explicitly prohibits the receiving party from copying, reproducing, selling, assigning, licensing, marketing, transferring, or otherwise disposing of, giving, or disclosing such Confidential Information to third parties. Furthermore, they cannot use the Confidential Information for any purposes other than their performance under the agreement.
Specifically, The Standardx franchisee is prohibited from disclosing the Disclosing Party's Confidential Information to a competitor of the Disclosing Party without obtaining prior written consent. The franchisee acknowledges that they do 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 Work Product or Confidential Information. This provision remains in effect even after the agreement expires or is terminated.