A government corporation receives all or most of its funding from the federal government. It has the independence of a private business but it is sponsored/acquired by the federal government. Example: The U.S. Postal Service. It is a company that is owned by the federal government (a corporation set up by the federal government to carry out business transactions on its behalf or an agency that conduct business/produce products for the nation). A government corporation receives public funds to serve a public purpose. The first government corporation created by Congress was the U.S. Bank.