Why are we all talking like corporate copyright lawyers or marketing ghouls, using these explicitly commercial terms 
I'm disappointed by the ease at which "IP" rolls off my tongue. I mean, most of the fiction and entertainment we surround ourselves with are more soulless corporate slop than art, but still
Good point- I've seen the word used in its popular culture sense so much I forgot its original meaning.
However, most franchises consist of works by multiple often work-for-hire authors
It's original meaning is church law.