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n A right or privilege officially granted to a person, a group of people, or a company by a government.

n An acknowledgment of a corporation's existence and ownership.

n The authorization granted by a company to sell or distribute its goods or services in a certain area.

n A business operating under such authorization.

n A legal exemption from jurisdiction.

n The membership of a corporation or state; citizenship.

n The right to vote at a public election.

n (sports) The collection of organizations in the history of a sports team; the tradition of a sports team as an entity, extending beyond the contemporary organization.

n (business|marketing) The positive influence on the buying behavior of customers exerted by the reputation of a company or a brand.

n The loose collection of fictional works pertaining to a particular universe, including literary, film(,) or television series from various sources.

n (obsolete) Magnanimity; generosity; liberality; frankness; nobility.

v (transitive) To confer certain powers on; grant a franchise to; authorize.

v (transitive|rare) To set free; invest with a franchise or privilege; enfranchise.