franchise

Concise Oxford English Dictionary © 2008 Oxford University Press:
franchise /ˈfran(t)ʃʌɪz/

▶noun

• 1 an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities.

  ■ a business or service granted such authorization.

  ■ N. Amer. an authorization given by a professional league to own a sports team.

  ■ N. Amer. informal a professional sports team.

• 2 the right to vote in public elections.

▶verb grant a franchise to.

■ grant a franchise for the sale of (goods) or the operation of (a service).

– derivatives
franchisee noun,
franchiser (also franchisor) noun.

– origin ME (denoting a grant of legal immunity): from OFr., based on franc, franche (see frank1).