Generally speaking, a statute passed by a state legislature specifically sets up a government-owned company in order to undertake a specific public purpose with public funds or public property.OverviewThe chartered and owned corporations operate to provide public services. Unlike. Federal-government-acquired corporations' are a separate set of corporations that were originally chartered and created by an entity other than the U.S. federal government, but that were, at some point, by the federal gov. • (CCC) • • (AmeriCorps). There exists a second level of government in the United States which coexists with the federal government: the individual of the United States. The vast majority of non-governmental corporation.