GOVERNMENT CORPORATION Meaning and
Definition
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A government corporation refers to a legal entity, established by the government, that acts and operates in a business-like manner to provide goods or services to the public. These entities have a separate legal and financial status from the government, functioning independently with their own management structures. Government corporations are typically created to achieve specific public policy objectives that may be better served through a commercial enterprise rather than direct government provision.
Government corporations possess certain characteristics that distinguish them from other types of governmental entities. Firstly, they possess a distinct legal identity, separate from the government. This allows them to enter into contracts, sue or be sued, and acquire assets and liabilities. Secondly, their financing is generally independent from government funding. Government corporations often generate revenue through the provision of goods or services, allowing them to cover their operational costs and, ideally, yield a profit. Lastly, they possess a degree of managerial autonomy, enabling them to make decisions regarding strategic planning and operational matters without governmental interference.
Examples of government corporations include the United States Postal Service (USPS), which provides postal services, and the Federal Deposit Insurance Corporation (FDIC), which insures deposits in banks. These entities operate on a self-sustaining basis, generating their own revenue to cover costs and maintain their operations. Government corporations play a vital role in delivering essential services and ensuring specific policy objectives are achieved, while retaining a degree of independence and financial accountability.
Common Misspellings for GOVERNMENT CORPORATION
- fovernment corporation
- vovernment corporation
- bovernment corporation
- hovernment corporation
- yovernment corporation
- tovernment corporation
- givernment corporation
- gkvernment corporation
- glvernment corporation
- gpvernment corporation
- g0vernment corporation
- g9vernment corporation
- gocernment corporation
- gobernment corporation
- gogernment corporation
- gofernment corporation
- govwrnment corporation
- govsrnment corporation
- govdrnment corporation
- govrrnment corporation
Etymology of GOVERNMENT CORPORATION
The term "government corporation" is a combination of two words:
1. Government: word "government" originates from the Old French word "governer", which means "to govern" or "to control". It further traces its roots back to the Latin word "gubernare", meaning "to steer" or "to control". concept of a central authority or governing body has been present in various civilizations throughout history.
2. Corporation: term "corporation" is derived from the Latin word "corpus", which means "body". It historically referred to a group of people united to pursue a common purpose or activity. Over time, it evolved to also signify a legal entity recognized by law, possessing certain rights and duties.
When these two words are combined, "government corporation" refers to an entity established and owned by the government, usually for a specific purpose such as providing public services or engaging in commercial activities.
