The significance of the Magna Carta, signed in 1215, lies in its establishment of the principle that no one, including the king, is above the law. It introduced fundamental rights and protections for individuals against arbitrary authority. This document laid the groundwork for the development of constitutional law and the concept of due process. The Magna Carta influenced later democratic principles and documents, such as the United States Constitution and the Universal Declaration of Human Rights. Its legacy endures as a symbol of the fight for liberty and justice, shaping modern democracies around the world.