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franchise

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The definition of a franchise is permission granted by the government or by a company to take a certain action, or a franchise is the entity which has such authorization.

(noun)

When the Dairy Queen company gives an investor permission to open a Dairy Queen store in his own home town, this is an example of a franchise.
The Dairy Queen that is opened with permission by the Dairy Queen company is an example of a franchise.

Franchise is defined as to grant authorization to someone to perform a service or operate a business.

(verb)

When a company grants permission for someone to open a branch of their company, this is an example of to franchise.

See franchise in Webster's New World College Dictionary

noun

Archaic freedom from some restriction, servitude, etc.
any special right, privilege, or exemption granted by the government, as to be a corporation, operate a public utility, etc.
the right to vote; suffrage: usually preceded by the
1. the right to market a product or provide a service, often exclusive for a specified area, as granted by a manufacturer or company
2. a business granted such a right
☆
1. the right to own a member team as granted by a league in certain professional sports
2. such a member team

Origin: ME < OFr < franc, free: see frank

transitive verb franchised, franchising

to grant a franchise to

adjective

designating a player on a professional team who is regarded as being essential to that team's success

See franchise in American Heritage Dictionary 4

noun

A privilege or right officially granted a person or a group by a government, especially:
a. The constitutional or statutory right to vote.
b. The establishment of a corporation's existence.
c. The granting of certain rights and powers to a corporation.
d. Legal immunity from servitude, certain burdens, or other restrictions.
a. Authorization granted to someone to sell or distribute a company's goods or services in a certain area.
b. A business or group of businesses established or operated under such authorization.
c. A brand name under which a series of products is released.
The territory or limits within which immunity, a privilege, or a right may be exercised.
A professional sports team.