The word for today is…
franchise (noun) – 1. A privilege or right granted by law, especially the right to vote in the election of public officials.
- A special privilege given by government to a corporation or an individual to engage in a particular activity using public facilities, especially to provide a public service such as transportation or communications.
- The establishment of a corporation, including the granting of certain privileges such as exemption from individual liability for the acts of the corporation.
- (a) Authorization granted to someone to sell or distribute a company’s goods or services in a certain area.
(b) A business or group of businesses established or operated under such authorization.
(c) A brand name under which a series of products is released. - The territory or limits within which immunity, a privilege, or a right may be exercised.
- A professional sports team.
Source : The Free Dictionary
Etymology : Franchise was voted into early 14th-century English as both a noun and verb. It is from the Anglo-French verb franchir, meaning “to free,” itself from franc, “free.” To be perfectly frank, the word franchise is most often encountered today with reference to restaurant chains or professional sports teams (e.g., “a franchise quarterback”), not to mention branded retail stores and sequel-driven movies and novels. These commercial meanings are far from the original meaning of the word in English: “freedom or immunity from some burden or restriction vested in a person or group.” This meaning evolved into the “right to vote” sense of the word.
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