Unitary enterprise
Encyclopedia
A unitary enterprise is a government-owned corporation
in Russia
and some other post-Soviet states
. Unitary enterprises are business
entities that have no ownership rights to the assets they use in their operations.
This form is only possible for state and municipal enterprises, which operate state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.
on October 11, 2002 and signed by President Putin
on November 14, 2002.
The assets of unitary enterprises belong to the federal government, a Russian region, or a municipality. A unitary enterprise holds assets under economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and such assets may not be distributed among the participants, nor otherwise divided. A unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.
An example of such an enterprise is Mashpriborintorg
.
Government-owned corporation
A government-owned corporation, state-owned company, state-owned entity, state enterprise, publicly owned corporation, government business enterprise, or parastatal is a legal entity created by a government to undertake commercial activities on behalf of an owner government...
in Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
and some other post-Soviet states
Post-Soviet states
The post-Soviet states, also commonly known as the Former Soviet Union or former Soviet republics, are the 15 independent states that split off from the Union of Soviet Socialist Republics in its dissolution in December 1991...
. Unitary enterprises are business
Business
A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
entities that have no ownership rights to the assets they use in their operations.
This form is only possible for state and municipal enterprises, which operate state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation and vice versa.
Russia
The legal status of unitary enterprises in Russia is defined in Federal Law No. 161-FZ "On State and Municipal Unitary Enterprises", which was approved by the State DumaState Duma
The State Duma , common abbreviation: Госду́ма ) in the Russian Federation is the lower house of the Federal Assembly of Russia , the upper house being the Federation Council of Russia. The Duma headquarters is located in central Moscow, a few steps from Manege Square. Its members are referred to...
on October 11, 2002 and signed by President Putin
Vladimir Putin
Vladimir Vladimirovich Putin served as the second President of the Russian Federation and is the current Prime Minister of Russia, as well as chairman of United Russia and Chairman of the Council of Ministers of the Union of Russia and Belarus. He became acting President on 31 December 1999, when...
on November 14, 2002.
The assets of unitary enterprises belong to the federal government, a Russian region, or a municipality. A unitary enterprise holds assets under economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and such assets may not be distributed among the participants, nor otherwise divided. A unitary enterprise is independent in economic issues and obliged only to give its profits to the state. Unitary enterprises have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices.
An example of such an enterprise is Mashpriborintorg
Mashpriborintorg
Federal State Unitary Enterprise Foreign Economic Association Mashpriborintorg also known as V/O Mashpriborintorg was a Soviet era export conglomerate. During the late 50s, 60s and 70s it exported millions of units of photographic and cinematic equipment to about 74 countries worldwide. According...
.