A more thorough explanation:

A franchise is a legal agreement that allows a person or company to use the name, products, and services of another company. There are different types of franchises, including:

• Elective franchise: The right to vote.
• Corporate franchise: The right granted by the government to engage in a specific business or to exercise corporate powers.
• Commercial franchise: A franchise using local capital and management by contracting with third parties to operate a facility identified as offering a particular brand of goods or services.
• Sports franchise: A franchise granted by a professional sports league to field a team in that league.

Franchises can be used in connection with real property and are sometimes characterized as real property. They can also be granted by the owner of a trademark or tradename to engage in business or to sell a good or service in a certain area.

For example, McDonald's is a well-known franchise that allows people to open their own McDonald's restaurant using the company's name, products, and services. The franchisee pays a fee to McDonald's for the right to use their brand and must follow certain rules and guidelines set by the company. This is an example of a commercial franchise.

Another example is the National Football League (NFL), which grants franchises to teams that want to play in the league. The team owner pays a fee to the NFL for the right to use their brand and must follow certain rules and guidelines set by the league. This is an example of a sports franchise.

In summary, a franchise is a legal agreement that allows a person or company to use the name, products, and services of another company. There are different types of franchises, including commercial and sports franchises, and they can be used in connection with real property or a trademark or tradename.