A key tenet of a Republic is the division of governmental entities and the limitations placed on the head of State's powers. This denotes that governance is a matter pertaining to the public rather than being dominated by a handful of unelected officials. The primary concept is to return authority to the populace, ensuring that the governance is conducted by the many instead of the few. The principles of Republican governance are not novel and have existed in certain forms since the ancient times of the Roman Republics. Nowadays, numerous nations identify themselves as Republics, although there is ongoing debate regarding their true adherence to the concept.
The Medici family, recognized as the House of Medici, first gained wealth and political influence in Florence during the 13th century through their achievements in commerce and banking.