Republic
Part of speech: noun
Definition: A state where sovereignty rests with the people or their representatives, rather than with a monarch or emperor; a country with no monarchy. One of the subdivisions constituting Russia. See oblast.
Example sentence: Toleration and liberty are the foundations of a great republic.
Commonwealth
Part of speech: noun
Definition: A form of government, named for the concept that everything that is not owned by specific individuals or groups is owned collectively by everyone in the governmental unit, as opposed to a state, where the state itself owns such things.Approximately, a republic.