The following definitions are from Google search:
cor·po·rate
ˈkôrp(ə)rət/
adjective
- 1.of or relating to a corporation, especially a large company or group."airlines are very keen on their corporate identity"
noun
- 1.a corporate company or group.
fran·chise
ˈfranˌCHīz/
noun
- 1.an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities, e.g., providing a broadcasting service or acting as an agent for a company's products.
synonyms: warrant, charter, license, permit, authorization, permission, sanction, privilege "the company lost its TV franchise" - 2.the right to vote.
verb
- 1.grant a franchise to (an individual or group).