Communism/ˈkɑːmjənɪzəm/ Definition 1 of 2Pro Tip 1/3Societal Structure Communism suggests everyone shares ownership, differing from individualism. In communism, factories are owned collectively, not by one person. Pro Tip 2/3Collective Good Communism emphasizes the welfare of the community over individual gains. Under communism, the profits of a business would benefit the entire society. Pro Tip 3/3Historical Context Communism as a concept has a controversial history with mixed public perceptions. Communism led to heated debates during the Cold War era.