Franchising is a business relationship in which the Franchisor (the owner of the business providing the product or service) assigns to independent people (Franchisees) the right to market and distribute the Franchisors' product/service and to use the business name for a fixed period of time. 

The International Franchise Association defines the term "Franchising" as a "continuing relationship in which the Franchisor provides a licensed privilege to do business, plus assistance in organizing training, merchandising and management in return for a consideration from the Franchisee".