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In the Philippines, a government-owned and controlled corporation (GOCC), sometimes with an "and/or", [1] is a state-owned enterprise that conducts both commercial and non-commercial activity. Examples of the latter would be the Government Service Insurance System (GSIS), a social security system for government employees.
Freddie Mac, or the Federal Home Loan Mortgage Corporation (FHLMC) The National Gallery of Art; The Smithsonian Institution (SI) is an independent establishment of the United States created by an act of Congress on August 10, 1846. The SI conducts scientific and scholarly research; publishes the results of studies, explorations, and ...
US Government Manual, official freely downloadable PDFs of annual printed versions. Federal Agency Directory, online database maintained by the Louisiana State University Libraries in partnership with the Federal Depository Library Program of the GPO; A–Z Index of US Departments and Agencies, USA.gov, the US government's official web portal ...
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 ...
Today, a corporation is formed, or incorporated, by registering with the state, province, or national government and regulated by the laws enacted by that government. Registration is the main prerequisite to the corporation's assumption of limited liability.
Privatization is the process of transferring ownership of a business, enterprise, agency, charity or public service from the public sector (the state or government) or common use to the private sector (businesses that operate for a private profit) or to private non-profit organizations.
The Federal Surplus Commodities Corporation was one of the so-called alphabet agencies set up in the United States during the 1930s as part of President Franklin D. Roosevelt's New Deal. Created in 1933 as the Federal Surplus Relief Corporation , its name was changed by charter amendment on November 18, 1935.