The town of Douglas is the center of the Isle of Man’s business, shipping, transport, shopping, and entertainment. It derives its name from the early Celtic word Duboglassio, meaning ‘black river.’ Located in the Irish Sea, equidistant from England, Scotland and Ireland, the Isle of Man is a self-governing possession of the British Crown and is not part of the United Kingdom, the Commonwealth, or an Overseas Territory, but instead holds a semiautonomous status. It is home to the world's oldest continuous parliament, known as the Tynwald Court.