15:38
Isn’t uchicago like Top 4 tho
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LSDefine
Simple English definitions for legal terms
special franchise
Read a random definition: American Stock Exchange
A quick definition of special franchise:
A special franchise is a right given by the government to a company, usually a public utility, to use property for a public purpose but for private profit. It is different from a general franchise, which is a corporation's charter, and a commercial franchise, which is a business or territory controlled by the person or entity that has been granted the right to use a trademark or tradename to sell goods or services in a certain area. A sports franchise is a right granted by a professional sports league to field a team in that league, while a trial franchise has a limited duration, such as one year.
A more thorough explanation:
A special franchise is a right granted by the government to a public utility to use property for a public use but for private profit. This is different from a general franchise, which is a corporation's charter.
For example, a city may grant a special franchise to a power company to use public land to install power lines and provide electricity to homes and businesses. The power company can make a profit from providing this service, but the government has given them the right to use public property for this purpose.
Another example of a special franchise is a cable company being granted the right to use public land to install cables and provide cable television services to customers.
These examples illustrate how a special franchise is a specific type of government-granted right that allows a private company to use public property for a specific purpose while making a profit.