Principality (noun)

1. A sovereign state, especially a monarchy, ruled by a prince or princess.
2. A territory ruled by a prince or princess.
3. A self-governing state or community.
4. A nation or state having a prince or princess as its head of state.

Origin:

Late middle english: from old french principaute, from late latin principalitas, from latin princeps, princip- 'first, chief', from primus 'first' + capere 'take'. .

Examples:

1. Wales was once a principality within the realm of England.
2. The principality of Liechtenstein is a small, landlocked country in Europe.
3. In some countries, a principality is a type of constitutional monarchy.
4. In ancient times, city-states and principalities were common throughout Europe.
5. The principality of Monaco is the second-smallest country in the world.