The Whywille Corporation obtained its charter from the state in January because that is when they officially registered their business. A charter is a legal document that formally establishes a corporate entity. It includes information like the name of the corporation, the type of business it conducts, the amount and types of stock it is authorized to issue, and other important details. The state issues the charter and it serves as the corporation's official "birth certificate." The process of obtaining a charter often involves filing articles of incorporation with the state's Secretary of State office and paying a fee. Once the charter is granted, the corporation is legally allowed to conduct business.