Unitary enterprise
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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.
[edit] 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 Duma 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.
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