- 04/15/2019 at 2:56 am #484045EduGorillaKeymasterSelect Question Language :
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- Franchise no longer means granting of certain rights or privileges. It now has come to mean authorisations granted to individuals or groups to operate on behalf of the parent firm and to help expand its business.
- Meaning of the word franchise has widened over time. Whereas it once meant only a privilege granted by a government to the citizenry, it has now become an important tool to expand business through associate businesses or groups.
- Franchise no longer signifies a legal term. It has become more of a business term where businesses delegate authorisation to sell a product or service for a consideration.
- Franchising has expanded considerably in scope over the years, with governments and businesses delegating authorisation for granting certain rights and privileges under certain conditions.
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