Definitions

1. noun

A right or license granted to an individual or group to market a particular product or service under a specific brand name

“The company decided to expand its franchise to include multiple locations worldwide.”

2. noun

A business established under a franchisor’s trademark, often with a standardized system of operation

“The local Subway franchise offers a wide variety of sandwiches and salads.”

3. verb

To grant or sell the right to market a product or service under a specific brand name

“The company will franchise its brand to several new locations next year.”

4. noun

A right or privilege granted to an individual or group, especially in sports

“The team was awarded a franchise in the new professional league.”