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charter

verb [T] (OFFICIAL START)
 
 
/ˈtʃɑː.tər/ US  /ˈtʃɑːr.t̬ɚ/

Definition

to officially start a new organization by giving it a charter: Cambridge University Press was chartered in 1534.Starting, succeeding and failing in business
(Definition of charter verb (OFFICIAL START) from the Cambridge Advanced Learner's Dictionary & Thesaurus © Cambridge University Press)
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