republic

 
Pronunciation: /rɪˈpʌblɪk/

noun

  • a state in which supreme power is held by the people and their elected representatives, and which has an elected or nominated president rather than a monarch.
  • archaic a group with a certain equality between its members: the community of scholars and the republic of learning

Origin:

late 16th century: from French république, from Latin respublica, from res 'entity, concern' + publicus 'of the people, public'