THE FIRST WORD

pocket license
Licenses can be transferred from one establishment to another in the same town; a license that is held but not attached to an operational restaurant is referred to as a "pocket license."

The word "pocket" is often used to convey that something is under a particular person's control, as in a "pocket borough" (in the U.K., a borough where the election of representatives was controlled by one person or family) and "pocket veto" (keeping a bill unsigned until the end of a legislative session, so that it can't be dealt with).