No, it's more like if the South was still separated from the North and somebody from Florida built a factory in New York with their headquarters still in Florida. Is that a US company or a Confederate company? What if the North still claimed rule over the South but actually had not effect on the South other than keeping them out of any international organization and pointing missiles at them. Now imagine the South still has their own currency, health care system, President and Congress, hold elections and have vastly more human rights (I know, the human rights is probably swapped in this scenario). Oh but the North says there is only one America, so they bully the rest of the world into not officially recognizing the South as its own sovereign country.