state power of subjects of the Russian Federation, and the local governments have no right to interfere in the activities of State corporations. These state corporations (a non-profit) establishing under a Russian federal law are different from all the other organizations referred to in the mass media as "state corporations". According to the law, a state corporation is wholly owned by the Russian Federation directly, bypassing the Federal Agency for State Property Management. State company A state company () defined by Article 7.2 of NCO Law is a non-membership non-profit organization. Each state company is created by a separate Russian federal law. These state companies (a non-profit) establishing only under a federal law are different from all the other organizations referred to in the mass media as "state companies". Unitary enterprise A unitary enterprise () is a commercial organization that have no ownership rights to the assets used in their operations. This form is possible only for state and municipal enterprises, operating with state or municipal property, respectively. The owners of the property of a unitary enterprise have no responsibility for its operation, and vice versa. The assets of unitary enterprises belong to the central government (in which case they are known as federal state unitary enterprises), a Russian region, or a municipality. A unitary enterprise holds assets under the right of economic management (for both state and municipal unitary enterprises) or operative management (for state unitary enterprises only), and that 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 would have no right to set up subsidiaries, but, with the owner's consent, can open branches and representation offices. As of January 2017, there are 1,120 federal state unitary enterprises in Russia. Companies Information on the legal form of companies is drawn from the open-data portal of the Federal Agency for State Property Management, unless otherwise stated. Privatization Since the first waves of privatization in the 1990s, the Russian government has sold stakes in several companies, often while continuing to hold a significant degree of ownership. In 2016 this included the sale 10.9% of Alrosa, and 19.5% of Rosneft. Privatization plans for the 2017-2019 period include selling stakes in VTB (10.9%), Sovcomflot (25% minus 1 share), and Novorossiysk Commercial Sea Port. See also Federal Agency for State