Secondary Franchise of a Corporation Law and Legal Definition
Secondary franchise is the powers granted to a corporation by the sovereign and specified in its charter or by statute. It refers to any of those franchises of a corporation other than its right or franchise to be a corporation, which is the primary franchise.
Secondary franchises of a corporation for services performed may, under some of the authorities, be transferred in connection with an assignment of the tangible property of the corporation, when that property can be fully enjoyed by the grantee only by an exercise of such secondary franchise. [Virginia Canon Toll-Road Co. v. People, 22 Colo. 429 (Colo. 1896)]
