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The function of a corporation charter is to establish the basic elements for an incorporated business enterprise. For example, a corporation charter sets forth the activities the corporation intends to engage in once established.
Definitions (3). 1. General: Formal document (instrument) that creates a legal entity, exemption, immunity, privilege, or right. In case of an organization, a charter defines or mandates its function(s) and lays down rules for its conduct or governance. 2. Incorporation: Alternative term for articles of incorporation, the US equivalent of the UK's memorandum of association. 3.