term:

Republic

republic n

1 : a government having a chief of state who is not a monarch and who in modern times is usually a president
;also
: a political unit (as a nation) having such a form of government
2 : a government in which supreme power resides in a body of citizens entitled to vote and is exercised by elected officers and representatives responsible to them and governing according to law
;also
: a political unit (as a nation) having such a form of government

Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.