franchise

(redirected from Franchise Agreements)
Also found in: Dictionary, Thesaurus, Legal, Financial.

franchise,

in government, a right specifically conferred on a group or individual by a government, especially the privilege conferred by a municipality on a corporation of operating public utilities, such as electricity, telephone, and bus services. Franchises may not be revoked without the consent of the grantee unless so stipulated in the contract. They may, however, be forfeited by the grantee's violation of terms, and the government may take back granted rights by eminent domain proceedings with tender of just compensation. Franchise provisions usually include tenure; compensation to the grantor; the services, rates, and extensions; labor and strike regulations; capitalization; and reversion to the grantor.

The term franchise also refers to a type of business in which a group or individual receives a license from a corporation to conduct a commercial enterprise. Corporate franchises enable a franchisee to market a well-known product or service in return for an initial fee and a percentage of gross receipts. The franchiser usually provides assistance with merchandising and advertising. Major franchise networks, which have grown rapidly in the United States since the 1960s, include fast-food restaurants, gasoline stations, motels, automobile dealerships, and real-estate agencies, and the system has expanded into many other fields.

In politics, the franchise is the right conferred on an individual to vote. In the United States, the states, with some restrictions by the U.S. Constitution, govern the qualifications of voters. By the Fourteenth and Fifteenth amendments, states were forbidden to deny suffrage to male residents over 21 years of age "on account of race, color, or previous condition of servitude." The Nineteenth Amendment conferred suffrage upon women, and the Twenty-sixth Amendment lowered the voting age to 18. See votingvoting,
method of registering collective approval or disapproval of a person or a proposal. The term generally refers to the process by which citizens choose candidates for public office or decide political questions submitted to them.
..... Click the link for more information.
.

Bibliography

See C. Williamson, American Suffrage from Property to Democracy, 1760–1860 (1960, repr. 1968); C. L. Vaughn, Franchising (1974).

franchise

1. the right to vote, esp for representatives in a legislative body; suffrage
2. any exemption, privilege, or right granted to an individual or group by a public authority, such as the right to use public property for a business
3. Commerce authorization granted by a manufacturing enterprise to a distributor to market the manufacturer's products
4. the full rights of citizenship
5. Films a film that is or has the potential to be part of a series and lends itself to merchandising
References in periodicals archive ?
Previously, there was nothing in Article 142 that mentioned when a franchisor may be able to approve transfers of the franchise agreement or of ownership interests in the franchisee.
the obligation for the franchisor to disclose specific information to the prospective franchisee at least 30 business days prior to the execution of the franchise agreement, which if not fulfilled could result in the imposition of fines, nullity of the franchise agreement and payment of damages and losses caused;
Some common alternative remedies in international franchise agreements are the ability of the franchisor to reduce the franchisee's territory, or to make the franchisee non exclusive in its territory.
Not long ago, Kumon decided that its standard franchise agreement was not as compatible as it could be with the franchise investor profile described above.
During the first quarter, GMAC Real Estate signed franchise agreements with the following companies:
The new updated UFOC and Franchise Agreements will be filed in all registration and exempt states.
As part of the agreement, all 15 Wyndham-branded assets will remain in the brand's portfolio pursuant to new franchise agreements.
Colin Dyne, Tag-It Pacific's chief executive officer, commented, "This is the first of many new franchise agreements we anticipate signing as we initially target 15 markets which account for $600 million in zipper business.
a subsidiary of Banyan Corporation (OTCBB: BANY) has entered Area Representative and Franchise Agreements with renowned Chiropractor, Dr.
com)-- ktMINE, an intellectual property (IP) data and information services firm, today announced that the ktMINE Royalty Rates and Records Database now includes more than 900 franchise agreements.
Build your restaurant portfolio: purchase price includes one corporate owned store (with franchise agreement); Area Development Agreement (with 3 additional franchise agreements); with option to purchase additional franchise agreements.