### Question
Can you define what franchise means?


### Answer
**Franchise** is defined as the following in *26 U.S.C. § 197*:

> given to such term by section 1253(b)(1).

#### Citation:
  - *26 U.S.C. § 197*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter B-Computation of Taxable Income > PART VI-ITEMIZED DEDUCTIONS FOR INDIVIDUALS AND CORPORATIONS**

