Franchising is the practice of the right to use a firm's business model and brand for a prescribed period of time. The word "franchise" is of Anglo-French derivation—from franc, meaning free—and is used both as a noun and as a (transitive) verb.
For the franchisor, the franchise is an alternative to building "chain stores" to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business.
Thirty three countries—including the United States and Australia—have laws that explicitly regulate franchising, with the majority of all other countries having laws which have a direct or indirect impact on franchising.
Franchising is also used as a foreign market entry mode.
Largest franchised chains
The following U.S. listing tabulates the early 2010 ranking of major franchises along with the number of sub-franchisees (or partners) from data available for 2004. The United States is a leader in franchising, a position it has held since the 1930s when it used the approach for fast-food restaurants, food inns and, slightly later, motels at the time of the Great Depression. As of 2005, there were 909,253 established franchised businesses, generating $880.9 billion of output and accounting for 8.1 percent of all private, non-farm jobs. This amounts to 11 million jobs, and 4.4 percent of all private sector output.
In Anglo-Saxon law, an exclusive right is a de facto, non-tangible prerogative existing in law (that is, the power or, in a wider sense, right) to perform an action or acquire a benefit and to permit or deny others the right to perform the same action or to acquire the same benefit. A "prerogative" is in effect an exclusive right. The term is restricted for use for official state or sovereign (i.e., constitutional) powers. Exclusive rights are a form of monopoly.
Exclusive rights can be established by law or by contractual obligation, but the scope of enforceability will depend upon the extent to which others are bound by the instrument establishing the exclusive right; thus in the case of contractual rights, only persons that are parties to a contract will be affected by the exclusivity.
In the future, the United States has converted to an "electronic democracy" where the computer Multivac selects a single person to answer a number of questions. Multivac will then use the answers and other data to determine what the results of an election would be, avoiding the need for an actual election to be held.
The story centers around Norman Muller, the man chosen as "Voter of the Year" in the 2008 U.S. presidential election. Although the law requires him to accept the dubious honour, he is not sure that he wants the responsibility of representing the entire electorate, worrying that the result will be unfavorable and he will be blamed.
Doom is a series of first-person shootervideo games developed by id Software. The series focuses on the exploits of an unnamed space marine operating under the auspices of Union Aerospace Corporation (UAC), who fights hordes of demons and the undead in order to survive.
Doom is considered to be one of the pioneering first-person shooter games, introducing to IBM-compatible computers features such as 3D graphics, third dimension spatiality, networked multiplayer gameplay, and support for player-created modifications with the Doom WAD format. Since the release of Doom in 1993, the series has spawned numerous sequels, expansion packs, and a film.
Since its debut, over 10 million copies of games in the Doom series have been sold.