public ownership

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Public ownership

The portion of a company's stock that is held by the public.

Public Ownership

1. The ownership of a company represented by a stock that is traded on the open market, either on a stock exchange or on the over-the-counter market. Individual and institutional shareholders each have a portion of this public ownership, in proportion to the amount of stock they own as a percentage of all outstanding stock. Thus, shareholders have final say in all decisions made by the company and its managers, especially through its annual shareholders' meeting. Public ownership allows a company to have greater access to financing than other companies, as they have the ability to issue more stock. However, these companies are subject to greater regulation: for example, they must file 10-K reports with the SEC on their earnings, and they are more likely to be subject to corporate taxes.

2. Ownership of a company by the government. Command economies have a large number of companies under public ownership, but even free market economies have some degree of government involvement in this form. Many countries have public ownership of one or more companies that produce their main exports. For example, many oil-rich states have oil companies under partial or total public ownership.

public ownership

see NATIONALIZATION.
References in periodicals archive ?
Burke warned his fellow citizens that municipal ownership only worked so long as a purely democratic government existed.
(8.) Lloyd Frank Velicer, Municipal Ownership and the Manitowoc, Wisconsin Socialists.
(34.) The story of municipal ownership in Manitowoc is summarized nicely in Lloyd Frank Velicer, Municipal Ownership and the Manitowoc, Wisconsin Socialists, Occupational Monograph, no.
(35.) The mayor stated in 1915 that he "could not then [in 1906], as a matter of policy, make public that the object of this move ]a new public water plant] was to convince the Water Works Company of the weakness of their position in trying to force the community to pay for over-valuation." Stolze, "Municipal Ownership," 227.
In sum, the accountability feature of Ontario municipal law, coupled with a convergence of local interests under the rubric of boosterism, convinced Port Arthur residents to embrace the municipal ownership idea.
Hence, it is essential that the character of social relations in Port Arthur be established in order to comprehend why municipal ownership took hold to the degree it did prior to World War 1.
The genesis of municipal ownership of urban services in Port Arthur was thus due to a unique configuration of social relations, peculiar to the place.
The consolidated Municipal Act therefore facilitated rather than obstructed the growth of municipal enterprise by enabling municipalities to issue debentures and through the explicit recognition of the municipal ownership of some urban services.
This brief review of the evolution of statutory law in Ontario as it relates to municipal enterprise prior to 1914 indicates that the provincial government actively promoted the municipal ownership of urban services.
Unlike towns such as Fort William that experimented with municipal ownership after 1900, Port Arthur did not import its municipal managers from outside the region.
This is somewhat ironic, in that, the municipal ownership idea initially pitted Port Arthur's small-scale property owners against prominent members of the town's elite who had hitherto profited from the public subsidization of private enterprise.
(66) The inability of entrepreneurs, in turn, to construct a street railway convinced a growing number of residents to advocate the municipal ownership of urban services.

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