NON-DISCLOSURE FOR POTENTIAL FRANCHISEES, BUSINESS PARTNERS, ASSOCIATES & SUPPLIERS IN FAVOUR OF ILLUME LIGHTS & DECOR (PTY) Ltd.
I/we, the undersigned, desire to enter into an agreement with ILLUME LIGHTS & DECOR (PTY) Ltd. and/or its Managing Directors / Partners, hereinafter referred to as the Company. To enable me/us to base my/our decision on solid facts, I/we request the Company to permit me/us access to confidential documentation relating to the business methods that are applied in the Company’s operations, as well as to confidential performance figures including trading results and future projections. To protect the Company’s legitimate interests, I/we herewith declare the following:
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I/we acknowledge that the Company has, during the period since 2021 when the Company’s original business has been established, developed proprietary business systems and procedures, hereinafter referred to as the “Confidential Material”. I/we are aware that the Company grants licences for the exploitation of the Confidential Material to others and understand that it would be prejudicial to the Company’s legitimate business interests as well as those of the Company’s existing and future franchisees, should the Confidential Material become accessible to unauthorised
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I/we acknowledge that the Confidential Material, or any part thereof, was made accessible to me/us on the express understanding that the knowledge derived there from is to be used exclusively for the purpose of evaluating the merits of the
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I/we undertake to maintain full confidentiality and promise not make copies of the Confidential Material by any means whatsoever, nor shall I/we make the Confidential Material available to any third party, now or at any time in the future.
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Should negotiations terminate and I/we do not proceed with an agreement, and regardless of the reasons therefore, I/we undertake not to set up for my/our own account, be employed by, or manage on behalf of others, serve as an advisor to, make an investment in or be involved in any other way whatsoever, in a business that is substantially the same as the businesses of the Company. I/we agree and accept that this restraint shall endure for a period of one year from date of signature to this document and be valid throughout the Republic of South Africa, Swaziland, Namibia, Botswana, Lesotho, Zimbabwe, Angola and
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I/we acknowledge that prior to entering into negotiations with the Company, I/we had insufficient knowledge of the Company’s business or industry and could not have successfully operated a similar business without the information that will be divulged by the Company during negotiations. I/we acknowledge therefore that the restraints set out above do not constitute a threat to my/our right to earn a living.
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I/we record that by signing this undertaking, I/we do not enter into any binding obligation other than to maintain absolute confidentiality regarding the Confidential Material and to abstain from setting up a business in opposition to the Company. I/we further record that it will not constitute a breach of this Secrecy Undertaking if I/we have the Confidential Material scrutinised by my/our bona fide professional advisors, these to be either drawn from among registered professionals in the legal or accounting field, or to be individuals approved in advance in writing by the
I/we confirm that we understand the contents of the above document and am/are aware of the consequences of signing it.
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