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sports franchise. 1. A franchise granted by a professional sports league to field a team in that league. 2. The team itself.

trial franchise. A franchise having an initial term of limited duration, such as one year.

franchise, vb. To grant (to another) the sole right of engaging in a certain business or in a business using a particular trademark in a certain area. "

Thus, franchising is a kind of business where franchisor grants a licence to the franshisee to use franchisor's intellectual property rights such as knowhow, patents, trademarks, brand name, etc. to market the franchisor's products or services for consideration.