Terms of Use/Privacy Policy

Joyal Capital Management Foundation, Inc. Website Terms of Use

Ownership of Site; Agreement to Terms of Use

These Terms and Conditions of Use (the “Terms of Use”) apply to the Joyal Capital Management Foundation, Inc. web site located at www.joyalfoundation.org, and all associated sites linked to www.joyalfoundation.org by Joyal Capital Management Foundation, Inc., its subsidiaries and affiliates.  The Website is the property of Joyal Capital Management Foundation, Inc., (“Joyal”) and its licensors. BY USING THE WEBSITE, YOU AGREE TO THESE TERMS OF USE; IF YOU DO NOT AGREE, DO NOT USE THE WEBSITE.

Joyal reserves the right, at its sole discretion, to change, modify, add or remove portions of these Terms of Use, at any time. It is your responsibility to check these Terms of Use periodically for changes. Your continued use of the Website following the posting of changes will mean that you accept and agree to the changes. As long as you comply with these Terms of Use, Joyal grants you a personal, non-exclusive, non-transferable, limited privilege to enter and use the Website.


All text, graphics, user interfaces, visual interfaces, photographs, trademarks, logos, sounds, music, artwork and computer code (collectively, “Content”), including but not limited to the design, structure, selection, coordination, expression, “look and feel” and arrangement of such Content, contained on the Website is owned, controlled or licensed by or to Joyal, and is protected by trade dress, copyright, patent and trademark laws, and various other intellectual property rights and unfair competition laws.

Nothing contained on this Website should be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademark displayed on this Website without the written permission of Joyal. Your use of the trademarks displayed on this Website, or any other content on this Website, except as provided herein, is strictly prohibited. Images displayed on this Website are either the property of, or used with the permission by Joyal. The use of these images by you, or anyone else authorized by you, is prohibited unless specifically permitted by Joyal. Any unauthorized use of images may violate copyright laws, trademark laws, the laws of privacy and publicity, and communications regulations and statutes.

Your Use of the Website

You are permitted to store, display, analyze, modify, reformat, and print the information made available to you via these services only for your own use, provided that you also retain all copyright and other proprietary notices contained on the materials. You are not permitted to modify, reuse, repost, publish, transmit, or otherwise reproduce this information, in whole or in part, in any format to any third party without the express written consent of Joyal.

You may not attempt to gain unauthorized access to any portion or feature of the Website, or any other systems or networks connected to the Website or to any Joyal server.

You agree not to use any device, software or routine to interfere or attempt to interfere with the proper working of the Website or any transaction being conducted on the Website, or with any other person’s use of the Website.

You may not use the Website or any Content for any purpose that is unlawful or prohibited by these Terms of Use, or to solicit the performance of any illegal activity or other activity which infringes the rights of Joyal or others.

Other Terms and Conditions

Additional terms and conditions may apply to services and to specific portions or features of the Website, including contests, promotions or other similar features, all of which terms are made a part of these Terms of Use by this reference. You agree to abide by such other terms and conditions, including where applicable representing that you are of sufficient legal age to use or participate in such service or feature. If there is a conflict between these Terms of Use and the terms posted for or applicable to a specific portion of the Website or for any service offered on or through the Website, the latter terms shall control with respect to your use of that portion of the Website or the specific service.

Joyal’s obligations, if any, with regard to its products and services are governed solely by the agreements pursuant to which they are provided, and nothing on this Website should be construed to alter such agreements.

Joyal may make changes to any products or services offered on the Website, or to the applicable prices for any such products or services, at any time, without notice. The materials on the Website with respect to services may be out of date, and Joyal makes no commitment to update the materials on the Website with respect to such services.

Accounts, Passwords and Security

Certain features or services offered on or through the Website may require you to open an account (including setting up a username and password). You are entirely responsible for maintaining the confidentiality of the information you hold for your account, including your password, and for any and all activity that occurs under your account as a result of your failing to keep this information secure and confidential. You agree to notify Joyal immediately of any unauthorized use of your account or password, or any other breach of security. You may be held liable for losses incurred by Joyal or any other user of or visitor to the Website due to someone else using your username, password or account as a result of your failing to keep your account information secure and confidential.

You may not use anyone else’s username, password or account at any time without the express permission and consent of the holder of that username, password or account. Joyal cannot and will not be liable for any loss or damage arising from your failure to comply with these obligations.


Joyal’s Privacy Policy applies to use of this Website, and its terms are made a part of these Terms of Use by this reference. Joyal’s Privacy Policy can be viewed on this web page after Joyal’s Terms of Use. Additionally, by using the Website, you acknowledge and agree that Internet transmissions are never completely private or secure. You understand that any message or information you send to the Website may be read or intercepted by others, even if there is a special notice that a particular transmission is encrypted.

Your use of the products and services on this Website may be monitored by Joyal, and that resultant information may be used by Joyal for its internal business purposes or in accordance with the rules of any applicable regulatory or self-regulatory organization.

Links to Other Websites and to the Joyal Website

This Website may contain links to other independent third-party Websites (“Linked Websites”) which are not maintained by Joyal. The inclusion of any Linked Website does not imply Joyal’s approval or endorsement of such Websites or the content thereof. Joyal cannot guarantee that the links set out on our Website will be accurate at the time of your access. Moreover, the Websites pointed at by links have been independently developed and possibly maintained by person(s) over whom Joyal has no control. Accordingly, Joyal assumes no responsibility for the content of any Website referenced to by any hyperlink or otherwise. You will need to make your own independent judgment regarding your interaction with these Linked Websites.



The above disclaimer applies to any damages, liability or injuries caused by any failure of performance, error, omission, interruption, deletion, defect, delay in operation or transmission, computer virus, communication line failure, theft or destruction of or unauthorized access to, alteration of, or use, whether for breach of contract, tort, negligence or any other cause of action.

Joyal reserves the right to do any of the following, at any time, without notice: (1) to modify, suspend or terminate operation of or access to the Website, or any portion of the Website, for any reason; (2) to modify or change the Website, or any portion of the Website, and any applicable policies or terms; and (3) to interrupt the operation of the Website, or any portion of the Website, as necessary to perform routine or non-routine maintenance, error correction, or other changes.

Limitation of Liability

Except where prohibited by law, in no event will Joyal be liable to you for any indirect, consequential, exemplary, incidental or punitive damages, including lost profits, even if Joyal has been advised of the possibility of such damages.

If, notwithstanding the other provisions of these Terms of Use, Joyal is found to be liable to you for any damage or loss which arises out of or is in any way connected with your use of the Website or any Content, Joyal’s liability shall in no event exceed the greater of (1) the total of any subscription or similar fees with respect to any service or feature of or on the Website paid in the six months prior to the date of the initial claim made against Joyal, or (2) US$500.00. Some jurisdictions do not allow limitations of liability, so the foregoing limitation may not apply to you.


You agree to indemnify and hold Joyal, its officers, directors, shareholders, predecessors, successors in interest, employees, agents, subsidiaries and affiliates, harmless from any demands, loss, liability, claims or expenses (including attorneys’ fees), made against Joyal by any third party due to or arising out of or in connection with your use of the Website.

Violation of These Terms of Use

Joyal may disclose any information we have about you (including your identity) if we determine that such disclosure is necessary in connection with any investigation or complaint regarding your use of the Website, or to identify, contact or bring legal action against someone who may be causing injury to or interference with (either intentionally or unintentionally) Joyal’s rights or property, or the rights or property of visitors to or users of the Website, including Joyal’s customers. Joyal reserves the right at all times to disclose any information that Joyal deems necessary to comply with any applicable law, regulation, legal process or governmental request. Joyal also may disclose your information when Joyal determines that applicable law requires or permits such disclosure, including exchanging information with other companies and organizations for fraud protection purposes.

You acknowledge and agree that Joyal may preserve any transmittal or communication by you with Joyal through the Website or any service offered on or through the Website, and may also disclose such data if required to do so by law or Joyal determines that such preservation or disclosure is reasonably necessary to (1) comply with legal process, (2) enforce these Terms of Use, (3) respond to claims that any such data violates the rights of others, or (4) protect the rights, property or personal safety of Joyal, its employees, users of or visitors to the Website, and the public.

You agree that Joyal may, in its sole discretion and without prior notice, terminate your access to the Website and/or block your future access to the Website if we determine that you have violated these Terms of Use or other agreements or guidelines which may be associated with your use of the Website. You also agree that any violation by you of these Terms of Use will constitute an unlawful and unfair business practice, and will cause irreparable harm to Joyal, for which monetary damages would be inadequate, and you consent to Joyal obtaining any injunctive or equitable relief that Joyal deems necessary or appropriate in such circumstances. These remedies are in addition to any other remedies Joyal may have at law or in equity.

You agree that Joyal may, in its sole discretion and without prior notice, terminate your access to the Website, for cause, which includes (but is not limited to) (1) requests by law enforcement or other government agencies, (2) a request by you (self-initiated account deletions), (3) discontinuance or material modification of the Website or any service offered on or through the Website, or (4) unexpected technical issues or problems.

Governing Law; Dispute Resolution

You agree that all matters relating to your access to or use of the Website, including all disputes, will be governed by the laws of the United States and by the laws of the Commonwealth of Massachusetts without regard to its conflicts of laws provisions. You agree to the personal jurisdiction by and venue in the state and federal courts in Suffolk County, Massachusetts, and waive any objection to such jurisdiction or venue. Any claim under these Terms of Use must be brought within one (1) year after the cause of action arises, or such claim or cause of action is barred. Claims made under the separate terms and conditions of purchase for goods and services are not subject to this limitation. No recovery may be sought or received for damages other than out-of-pocket expenses, except that the prevailing party will be entitled to costs and attorneys’ fees. In the event of any controversy or dispute between Joyal and you arising out of or in connection with your use of the Website, the parties shall attempt, promptly and in good faith, to resolve any such dispute. If we are unable to resolve any such dispute within a reasonable time (not to exceed thirty (30) days), then either party must submit such controversy or dispute to mediation. If the dispute cannot be resolved through mediation, then the parties shall be free to pursue any right or remedy available to them under applicable law.


You may not use or export or re-export any Content or any copy or adaptation of such Content, or any product or service offered on the Website, in violation of any applicable laws or regulations, including without limitation United States export laws and regulations.

If any of the provisions of these Terms of Use are held by a court or other tribunal of competent jurisdiction to be void or unenforceable, such provisions shall be limited or eliminated to the minimum extent necessary and replaced with a valid provision that best embodies the intent of these Terms of Use, so that these Terms of Use shall remain in full force and effect. These Terms of Use constitute the entire agreement between you and Joyal with regard to your use of the Website, and any and all other written or oral agreements or understandings previously existing between you and Joyal with respect to such use are hereby superseded and cancelled. Joyal will not accept any counter-offers to these Terms of Use, and all such offers are hereby categorically rejected. Joyal’s failure to insist on or enforce strict performance of these Terms of Use shall not be construed as a waiver by Joyal of any provision or any right it has to enforce these Terms of Use, nor shall any course of conduct between Joyal and you or any other party be deemed to modify any provision of these Terms of Use. These Terms of Use shall not be interpreted or construed to confer any rights or remedies on any third parties.

No Offer of Securities, Interests in Franchise Assets, Real Estate and/or Advice

This Website is for informational purposes only. Except as Joyal may authorize in advance and in writing from time to time, no information on this Website may be construed as a solicitation, offer, recommendation, representation of suitability or endorsement of any security, interest in franchise assets, real estate or investment. Irrespective of any documentation contained within this Website from time to time, offerings of franchise acquisitions or dispositions, real estate and interests in the same including, without limitation, through entities sponsored, formed and/or controlled by Joyal, are made only by private placement memorandum and related subscription documents and/or other definitive offering documents, distributed by persons authorized by Joyal, and only in those jurisdictions where permitted by the Securities Act of 1933 and/or the Securities Exchange Act of 1934 or (b) state ‘Blue Sky’ counterparts thereto (the preceding (a) and (b), collectively, the “Securities Laws”) and any other applicable statutes and regulations.

Except as expressly set forth by Joyal in writing, from time to time, this Website will be used as an electronic data room repository for information otherwise made available by Joyal in hardcopy and this Website will not be used by Joyal to prepare, publish, convey, disseminate or otherwise make available any reports regarding estate planning, financial planning, securities, real estate investments and/or interests in the same. This Website and the information contained herein does not constitute, and is not intended to constitute, a complete description of our franchise acquisition and disposition, estate planning, financial planning, real estate management services or asset holdings. This Website, inclusive of any information contained, referenced and/or linked within is not intended as investment advice. Subscribers are advised to consult their independent advisors for such advice.

Real Estate Risks and Asset Performance Information

Acquisitions of franchise interests, real estate and interests in real estate, including subscriptions for interests in franchises, real estate funds, joint ventures, fractional ownership and/or syndication structures, are illiquid, subject to a substantial risk of loss and are not suitable for many investors. A subscription for any such interest actually sponsored or offered by Joyal is subject to a variety of risks, certain of which are disclosed in each such interest’s private placement memorandum or other applicable offering document.

Investment Risks; No Advice Provided

Investments involve significant risks. Users should pay particular attention to the disclaimers and/or risk factors expressly set forth on any document associated with an investment. Users should not construe any contents of this Website as legal, tax, financial, accounting, investment or other related advice. Users will have, and should avail themselves of, the opportunity to ask questions and receive answers and additional information about any investment to verify information provided in connection with any potential investment.

Reliance on Own Review

In making a decision to participate and/or subscribe for an interest in any Joyal sponsored estate plan, franchise acquisition or disposition, real estate asset and/or fund including, without limitation, users and investors must rely on their own examination of the asset, fund and/or operating entity and the terms of the offering, including the merits and risks involved. No interest in any asset or fund described on this Website has been recommended or approved by any federal, state or foreign securities commission, regulatory authority or agency. Furthermore, the foregoing authorities have not confirmed the accuracy or determined the adequacy of any document hosted and/or otherwise contained on this Website. Any representation to the contrary is untrue and would constitute a criminal offense.

Past performance is not necessarily indicative of future results and is no guarantee of future returns.

Return objectives are only targets based upon one or more assumptions regarding the performance of our estate planning, financial planning, franchise acquisition and real estate interests and such assumptions may prove to be inaccurate and objectives and/or projections based thereon may not be achieved. Any performance data presented within this Website represents unaudited estimates and such data is based on information prepared by Joyal and/or third-party sources including, without limitation, management companies and consultants engaged by Joyal; provided, in addition, such information is calculated and presented as of, and expressly limited to, the date of posting, publication and/or any earlier referenced preparation date as set forth thereon. Such information may be inaccurate or incomplete. The investment strategies and risk characteristics of Joyal’s estate planning, financial planning, franchise acquisition or disposition services and real estate interests are unique to their specific facts and circumstances; therefore, comparisons of the performance of one to another may be misleading or ineffectual. Individual returns may vary due to the timing of capital contributions and withdrawals, side investments, tax withholding, special allocations of new issues and/or different fee arrangements.

Any information you receive from Joyal or to which you are permitted to access, is believed by management to be reliable. Nevertheless, neither Joyal nor its agents are liable for any deficiencies in the accuracy, adequacy, completeness, availability, relevance, reliability, currency or timeliness of such information.

Past Performance and “Forward Looking Statements”

Any past investment performance data contained on this Website for transactions, funds or projects previously sponsored and/or managed by Joyal (i) has been provided by Joyal and other sources and has not been independently verified in any way, (ii) is historical data and, as with all investments, past investment performance does not guarantee future results, and investment results may vary substantially over any given time period and (iii) there can be no assurances that any estate plans, financial plans, franchise acquisition or disposition plans or real estate asset(s) will be able to implement their investment strategies or achieve their objectives. Actual realized returns will depend on, among other factors, future operating results, the assets’ value and market conditions at the time of disposition, legal and contractual restrictions on transfer that may limit liquidity, any related transaction costs and the timing and manner of sale. Any projections or other estimates in contained on this Website, including estimates of returns or performance, are “forward-looking statements” and are based upon certain assumptions. Other events, which were not taken into account, may occur and may significantly affect the analyses. Any assumptions should not be construed to be indicative of the actual events that will occur. Actual events are difficult to predict and may depend upon factors that are beyond Joyal’s control. Accordingly, Joyal cannot make any assurances that estimated returns or projections can be realized or that actual returns or results will not be materially lower than those estimated herein. Users and any investors should conduct their own analysis using such assumptions as they deem appropriate and should fully consider other available information. Users and any investors can identify forward-looking statements on any documentation contained on the Website by the use of terminology such as “may,” “will,” “seek,” “target,” “expect,” “anticipate,” “project,” “should,” “believe,” “intend,” “plan,” “estimate,” “predict,” “potential,” “continue” or the negative thereof or other variations thereon or comparable terminology.

Joyal Capital Management Foundation, Inc. Website Privacy Policy

This Privacy Policy (“Policy”) pertains to the website: www.joyalfoundation.org, hosted in the United States by Joyal Capital Management Foundation, Inc., on behalf of itself, certain of its subsidiaries, controlled and/or affiliated entities and joint ventures (collectively, “Joyal”, “we” or “our”).

Joyal takes client and user privacy seriously because we know that your privacy on the Internet is important to you. Joyal has implemented generally accepted standards of technology and operational security in order to protect your personally identifiable information from loss, misuse, alteration, or destruction. Despite these precautions, however, Joyal cannot guarantee that unauthorized persons will not obtain access to your personally identifiable information. Joyal reserves the right, at its sole discretion, to alter and update this Policy from time to time and without any notice to you whatsoever; therefore, we urge visitors to www.joyalfoundation.org to review the current version of this Policy each time they return to the Website. At such times, if any, when this Policy is updated, the date appearing below will be updated to reflect the date of the latest revisions.

Joyal will not use this Website to collect any personally identifiable information from the users of this Website in addition to information that our Internet Service Provider automatically collects including, without limitation, (i) your Internet Service Provider, (ii) your IP Address, (iii) the websites you connect from, and (iv) the type of Internet browser that you use. Notwithstanding the foregoing and any other terms of this Policy, personally identifiable information provided to us by subscribers shall be subject to (i) the terms and conditions of each subscriber’s applicable Subscription Agreement(s), Limited Partnership Agreements, Limited Liability Company Agreement(s), franchise agreements, estate planning documents, trusts, and/or loan documents governing the applicable interest and (ii) applicable federal and state statutes governing the use of personally identifiable financial information in business transactions.

When you independently and voluntarily supply information through the “Contact” feature of this Website that personally identifies you and/or allows us to contact you including, without limitation, any and all materials submitted by you in connection with requesting information concerning estate planning, financial planning, business planning, franchise, real estate or other assets owned and/or operated by Joyal, you are agreeing to share such information, and any message you submit, with Joyal. We may collect the e-mail addresses of those who send us e-mail messages; however, we will not sell or rent any of the addresses we collect. Notwithstanding the foregoing, we may disclose personal information if required to do so by law or in the good faith belief that such action is necessary to: (i) comply with law and/or comply with legal process served upon us and/or our agents, representatives and/or affiliates or (ii) protect and/or defend our rights or property or those of our users.

We may use cookies or other technology to obtain certain types of information when your web browser accesses this Website. “Cookies” are small pieces of information that are stored by your browser on your computer’s hard drive. Our Website may use cookies and other technology to store pertinent user information during a session to speed navigation and keep track of items and to collect anonymous traffic data that we may use to enhance our Website and for marketing and promotional purposes. The “help” portion of the toolbar on most browsers will tell you how to prevent your browser from accepting new cookies, how to have the browser notify you when you receive new cookies, and how to disable cookies altogether. By using the Website, you signify your acknowledgement, understanding and acceptance of this Policy. If you do not agree or are not comfortable with any statement described in this Policy, your only remedy is to discontinue your use of this Website. Information provided to you through this Website will be provided to you by another means upon written request.

This Website may contain links to other Websites not controlled, authorized, approved and/or reviewed by Joyal. Please be aware this Policy does not apply to such unaffiliated, linked websites. We are not responsible for the privacy practices or content of such unaffiliated, linked websites. We encourage you to read the posted privacy statement whenever interacting with any website including, without limitation, the privacy policy of Portal Provider.

Privacy Policy last updated November 1, 2017.