ELI5 the LCS Franchising, how it works and why.

I feel really dumb asking and know it's a simple concept, which is why I was really hesitant to comment on this (don't want to get flamed). But I just couldn't understand how franchising with Teams would work; I know how franchising works, companies give rights to use their name etc. How would that work in the LCS?

Please and thank you for those who reply. Will probably reply to everyone after I wake up. 2:30AM in Aus (OCE lul btw)

Edit: 2:42 (forgot to press post)