The republic in Rome was the time before the military rulers like Julius Caesar took power. It was a time in Rome's history when the people made the choices for the government. It was much like today's democracy.
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Roman Republic refers to the Roman history period between 509 BC and 27 BC when Rome and its territories were not ruled by kings or emperors. Rome was governed by elected senators during the period.
Rule by the rich is called oligarchy. The term is applied to any society which is ruled by the rich, not just the Roman republic. It is a term which comes from Greek.
All Roman officials normally served a term of one year. After Julius Caesar's death, the second triumvirate was formed and that was the longest governing term of the same men in the republic.
Patrician
Once appointed the term was indefinite but could be terminated for malfeasance or other crimes.
There really is no major difference. The Roman Empire was the empire itself, lasting from 27 BCE-476 AD (1453 for the Eastern half, which came to be the Byzantine Empire). In the beginning the Roman empire was an autocracy, headed by emperors. It then later turned into a republic, which is when people use the term Roman Republic or Republic of Rome. This is actually where the modern day type of republic comes from, Rome.