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The United States federal government chartered and owned corporations operate to provide public services. Unlike government agencies such as the Environmental Protection Agency, the Bureau of Indian Affairs, or independent commissions, such as the Federal Communications Commission, the Nuclear Regulatory Commission, and others, they have a separate legal personality from the federal government.
A government-owned corporation is a legal entity that undertakes commercial activities on behalf of an owner government. Their legal status varies from being a part of government to stock companies with a state as a regular stockholder. There is no standard definition of a government-owned corporation (GOC) or state-owned enterprise (SOE ...
A state-owned enterprise (SOE) is a business entity created or owned by a national or local government, either through an executive order or legislation.SOEs aim to generate profit for the government, prevent private sector monopolies, provide goods at lower prices, implement government policies, or serve remote areas where private businesses are scarce.
Corporatocracy [a] or corpocracy is an economic, political and judicial system controlled or influenced by business corporations or corporate interests. [ 1 ] The concept has been used in explanations of bank bailouts , excessive pay for CEOs , and the exploitation of national treasuries, people, and natural resources . [ 2 ]
State capitalism is an economic system in which the state undertakes business and commercial (i.e., for-profit) economic activity and where the means of production are nationalized as state-owned enterprises (including the processes of capital accumulation, centralized management and wage labor).
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In the developed world, corporations dominate the marketplace, comprising 50% [citation needed] or more of all businesses. Those businesses which are not corporations contain the same bureaucratic structure of corporations, but there is usually a sole owner or group of owners who are liable to bankruptcy and criminal charges relating to their business.
In Australia, statutory corporations are a type of statutory authority created by Acts of state or federal parliaments.. A statutory corporation is defined in the federal Department of Finance's glossary as a "statutory body that is a body corporate, including an entity created under section 87 of the PGPA Act" (i.e. a statutory authority may also be a statutory corporation). [1]