/
ˈfran(t)ʃʌɪz/
n.
  - 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. 
- the right to vote in public elections.
v.
 grant a franchise to. 
▸grant a franchise for the sale of (goods) or the operation of (a service).
Derivative
- franchisee n.
- franchiser 
(also franchisor)
 n.
Etymology
ME (denoting a grant of legal immunity): from OFr., based on franc, franche (see frank1).