privatization
privatization (n)
English Definitions:
denationalization, denationalisation, privatization, privatisation (noun)
changing something from state to private ownership or control
privatization (Noun)
The transfer of a company or organization from government to private ownership and control.
Privatization
Privatization, also spelled privatisation, may have several meanings. Primarily, it is the process of transferring ownership of a business, enterprise, agency, public service or public property from the public sector to the private sector, either to a business that operate for a profit or to a non-profit organization. It may also mean government outsourcing of services or functions to private firms, e.g. revenue collection, law enforcement, and prison management. Privatization has also been used to describe two unrelated transactions. The first is the buying of all outstanding shares of a publicly traded company by a single entity, taking the company private. This is often described as private equity. The second is a demutualization of a mutual organization or cooperative to form a joint stock company.
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