Final answer:
The London Company sponsored the Virginia Charter for settling near the Chesapeake Bay and the Massachusetts Bay Charter which established a governance system for the Massachusetts Bay Colony.
Step-by-step explanation:
The London Company sponsored two significant charters: the Virginia Charter and the Massachusetts Bay Charter. The Virginia Charter was issued in 1606 and aimed to settle the area near Chesapeake Bay, while also seeking gold and spreading Christianity. This charter was revised in 1609 and 1612 but eventually revoked in 1624 when the Virginia Company of London went bankrupt. The Massachusetts Bay Charter, issued in 1629, established the 'Governor and Company of the Massachusetts-bay in New England,' granting governance to freemen, including a governor and a legislative body called the General Court to create laws for the colony. King Charles I readily approved the Puritans' application for this charter, which allowed for a more peaceful solution to religious dissent in England.