commonwealth - definition in the Business English Dictionary - Cambridge Dictionaries Online

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commonwealth

noun [C]
 
 
/ˈkɒmənwelθ/ ( also Commonwealth) POLITICS, GOVERNMENT
a country or part of a country that is governed by its people or those elected by them. The word is used as the title of some of the states of the US: In Pennsylvania, navigable rivers belong to the Commonwealth.
an organized group of states, or of independent countries with the same political or economic aims: the Commonwealth of Australia (= the federation of Australian states) There is an ongoing investigation into the lobbyist and his dealings with Guam and the Commonwealth of the Northern Mariana Islands.
the Commonwealth (of Nations) an organization of independent countries which were part of the former British Empire and which now have friendly political or economic connections with each other. A small number of countries which did not form part of the British Empire have also joined the Commonwealth.
(Definition of commonwealth from the Cambridge Business English Dictionary © Cambridge University Press)
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