Socialist Republic State:

Socialism as an economic and political Regime advocating public/common ownership and cooperative management of the means of production and allocation of resources.

A socialist society characterised by a free association, which is not based on wage labour.

It is organized on the basis of relatively equal power relations, self-management, collective decision-making and adhocracy (non-linear response method) rather than hierarchical, bureaucratic forms of organization in the economic and political systems.

A sovereign state:

A state with a defined territory on which it exercises internal and external sovereignty, a permanent population, a government, independence from other states and powers, and the capacity to enter into relations with other sovereign states.

The government (sovereign state) holds legal title to all property therein.