What is a corporate charter?

A corporate charter, also known as articles of incorporation, is a foundational legal document that officially establishes the existence of a corporation in a particular state. It is filed with the state government and outlines essential information about the corporation, such as its name, purpose, the number of shares it is authorized to issue, and details about its registered agent. This document is crucial for the formation of a corporation, as it provides the legal framework under which the corporation operates.

The other options focus on various aspects of business operations but do not relate to the establishment of legal corporate identity. Hiring policies, marketing strategies, and employee benefits come into play after a corporation is formed and are guided by the principles and regulations outlined in the corporate charter but are not part of its defining legal framework. Thus, the option that states a corporate charter is a document establishing a corporation's legal existence accurately captures its primary role and purpose.