Water key shut-off at the street a standardized design?

[Paul Winka]

Today I learned that the water shutoff valve at the street is done with a simple tool such as this one:
Water key with t-style handle link.

I always thought that the homeowner either turned it off in the basement or the water company would have to come out to shut it off at the street.

Is shut-off valve standardized (like 110V wall outlets) and the case with 99% of the shut off valves in the rest of the country?