What does "franchise" mean?
According to a dictionary, a "franchise" is an authority that is given by an organization to someone, allowing them to sell its goods or services or to take part in an activity which the organization controls.
But I saw some movies are called "franchise". For example, " Actor Robert Downey, Jr. portrays the character in the feature films, which are part of the Marvel Cinematic Universe franchise produced by Marvel Studios. " What does "franchise" mean as in "Iron Man franchise" ?

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With movie like Iron Man, in addition to the movies there are also clothes, toys, video games and other branded items related to the film. These are part of the Iron Man franchise.

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