Charter

A charter is a formal document, often issued by a governmental or sovereign entity, granting rights, privileges, or powers. It can establish a corporation, municipality, or educational institution, outlining its purpose, regulations, and governance. Historically, charters were crucial in granting monopolies, establishing colonies, and defining the rights of citizens. Today, they continue to be relevant in legal and business contexts, shaping organizations and their operations. The document typically specifies the scope of authority and responsibilities assigned.

Charter meaning with examples

• The city council voted to rewrite the city's charter to modernize its government and address concerns about transparency and efficiency. This would reshape how its local government functions.
• The university was founded in the early 1800s after receiving a royal charter, authorizing it to grant degrees and establish its academic programs. This charter was a landmark decision.
• A travel group decided to charter a private jet for their exclusive, cross-country tour, wanting the comfort and flexibility that commercial airlines couldn't provide.
• The shipping company opted to charter a large cargo vessel to transport its products overseas, streamlining its supply chain and enhancing shipping capabilities.
• After the merger, the new company's board reviewed and amended its corporate charter to reflect the expanded scope of its business operations and its enhanced market presence.