public corporation

noun
1.
a corporation, owned and operated by a government, established for the administration of certain public programs.
3.
a large private corporation with many shares, which are sold to the public or traded on a stock exchange.

Origin:
1820–30

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Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
public corporation
 
n
(in Britain) an organization established to run a nationalized industry or state-owned enterprise. The chairman and board members are appointed by a government minister, and the government has overall control

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
There were other less potent suggestions, such as transferring its operations
  to a special public corporation.
The minute it becomes a public corporation there is this moral justification
  for bad behavior.
No municipality may give or lend any money or property in aid of a public
  corporation.
Where a lending of credit is in aid of a public corporation, a referendum is
  unnecessary.
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