franchise

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Related to Franchise system: Franchise agreement

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.
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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 ?
Some are beginning to wonder whether the franchise system remains relevant.
Executive Team: The culture of a franchise system is extremely important.
The business owner will retain 100 percent ownership of the original business concept and 75 percent of the new franchise system.
Now we have used this knowledge as a basis of our franchise system," Stangl states.
This episode has to bring an end to this futile franchise system.
Thus, long-term relations and continual effective communication are emphasized in franchise system as the key elements for its success.
The committee said the franchise system had had a decade to prove itself, but concluded it had failed.
Good has been appointed as the president and CEO of Sotheby's International Realty Corporation, the entity responsible for servicing the current affiliate network as well as the development of the franchise system.
I think we've done a very poor job of explaining to people what the franchise system is because it's definitely being promoted in other groups as some kind of exclusive club,'' Rahal said.
In master franchise agreements the ability of the master franchisee to act as franchisor in the foreign territory, using the franchise system and trademarks or licensing their use to a third party, is the distinguishing feature.
This article highlights areas of concern in acquiring a franchise system and appropriate steps a buyer should take in assessing the value of a potential target.
The opportunity and timing could not be greater for existing franchise system operators to expand their businesses and for new potential entrepreneurs to give strong consideration for business ownership in franchising.