Foolish's Word of the Day: Franchise



noun  fran·chise \ˈfran-ˌchīz\
  1. freedom or immunity from some burden or restriction vested in a person or group

  2. a special privilege granted to an individual or group

  3. the right to be and exercise the powers of a corporation

  4. a constitutional or statutory right or privilege

  5. the right or license granted to an individual or group to market a company's goods or services in a particular territory; also :  a business granted such a right or license

  6. the right of membership in a professional sports league

  7. a team and its operating organization having such membership