Statsforetak or SF, meaning State Enterprise is a type of company in Norway. SFs are wholly owned by the Government of Norway, but it does not hold limited liability in the company. The government is free to convert any aksjeselskap (limited company) that it owns, or any other assets, to an SF, without approval by other parties.The companies do have a board of directors and a managing director. The board must have at least three members; five if there is employee representation.