Státní podnik

Státní podnik (s.p.; translation — "state enterprise," of a business nature) is a Czech Republic and erstwhile Czech Socialist Republic designation for a business entity owned by the government (aka, "the state"). As is now and was always the case, the entity name is followed by the name of its legal structure, either spelled out (viz., "Státní podnik,") or abbreviated in lower case (viz., "s.p.").

Brief history

State enterprises (in the native language, the plural use is "státní podniky") were created in 1988 by the Czech Socialist Republic and its organizational units (cs) under an initiative of socialist reconstruction (aka perestroika). In 1990, a new law brought decision-making power back to founders and self-management of labor collectives were abolished, leaving only a partial representation of employees in the supervisory board. The agency diminished in 1997.

See also

References
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