Charters are documents that grant certain rights or privileges to an individual or organization. The term 'charters' can be broken down into four words: HITS (4 letters), HIRES (5 letters), RENTS (5 letters), and LEASES (6 letters). HITS stands for 'Hire, Invest, Trade, and Sell', which is a type of charter that grants the right to hire, invest, trade, and sell goods and services. HIRES stands for 'Hire, Invest, Receive, and Sell', which is a charter that grants the right to hire, invest, receive, and sell goods and services. RENTS stands for 'Rent, Exchange, Negotiate, and Trade', which is a charter that grants the right to rent, exchange, negotiate, and trade goods and services. Finally, LEASES stands for 'Lease, Exchange, Acquire, and Sell', which is a charter that grants the right to lease, exchange, acquire, and sell goods and services.