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A lingua franca is defined as a language that is used as a common means of communication between speakers of different native languages, particularly in contexts such as trade and business. It allows individuals from diverse linguistic backgrounds to understand each other, facilitating international communication and commerce.

In the realm of business, a lingua franca often emerges in activities that cross borders, where participants need a shared language to conduct transactions, negotiate contracts, and collaborate effectively. English is a prime example of a lingua franca in global business, as it is widely used for international negotiations and communication despite the varying native languages of the participants.

The other options refer to specific contexts: a dialect pertains to regional variations of a language used by a local population; a language with historical significance focuses more on the cultural or historical importance rather than its functionality in trade; and a personal language of negotiation suggests a more individualized or informal method of communication, rather than a widely accepted language used broadly in international interactions.