Under a franchise arrangement, a person or company purchases the ability to run a local business under a larger company's brand. Depending on the franchise arrangement, the local party may have to meet certain standards established by the larger company and purchase products from the larger company as well.
Half-cock is when the position of the hammer is partially but not completely cocked.
Half-life is important in drugs, since it indicates the amount of time in which half of a given substance is metabolized by the body. Half-life is used in pharmacology to determine the right dosage frequency. Half-life is used in toxicology to determine the effects of toxins in the body over a period of time.