Merriam-Webster's Collegiate® Dictionary, 11th Edition
FRANCHISE
I. noun see: frank
Date: 14th century
freedom or immunity from some burden or restriction vested in a person or group,
2. a special privilege granted to an individual or group, a constitutional or statutory right or privilege, c. the right or license granted to an individual or group to market a company's goods or services in a particular territory, the territory involved in such a right,
3. the right of membership in a professional sports league, a team and its operating organization having such membership,
II. transitive verb (franchised; franchising)
Date: 14th century
free , to grant a franchise to