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A business relationship in which an owner (the franchisor) licenses others (the franchisees) to operate outlets using business concepts, property, trademarks and tradenames owned by the franchisor.

2. A right reserved to the people by the constitution; hence we say the elective franchise to designate the right of the people to elect their officers.

3. A certain privilege conferred by grant from the government and vested in individuals.

Corporations or bodies politic are the most usual franchises known to our law. They have been classed among incorporeal hereditaments, perhaps improperly, as they have no inheritable quality.

In England franchises are very numerous and are said to be royal privileges in the hands of a subject.