Definitions (3)
1. A right conferred or established by a government, such as the right to vote (exercise one's franchise) in a local or national election.
2. Commerce: (1) A privilege granted to make or market a good or service under a patented process or trademarked name. (2) A business operating under such privilege.
3. Law: A government-conferred right to exist as a legal business entity within a particular jurisdiction and to exercise corporate powers.
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