A more thorough explanation:

Franchise is a legal term that can have different meanings depending on the context. Generally, it refers to a relationship between two businesses where one business, called the franchiser, allows another business, called the franchisee, to operate under the franchiser's name and sell their products or services in exchange for a fee and guidance from the franchiser.

For example, McDonald's is a franchiser that allows franchisees to open and operate McDonald's restaurants under the McDonald's name and sell their products. The franchisee pays a fee to McDonald's and follows their guidelines for running the restaurant.

Franchise can also refer to a right granted by the government to a corporation to operate as a legal business entity or provide a public service in a certain geographic region. For example, a taxi permit is a franchise that allows a taxi company to operate in a specific area.

Another example of a franchise is the right to vote in a public election. This is considered a franchise because it is a right granted by the government to citizens to participate in the democratic process.

In the context of petroleum marketing practices, a franchise is defined as a contract between a refiner and distributor, a refiner and a retailer, a distributor and another distributor, or a distributor and retailer under which a retailer or distributor uses the trademark of an oil company in connection with the sale of motor fuel.

Overall, franchise refers to a legal relationship between two businesses or a right granted by the government to operate a business or provide a public service.