Privatization

Definition

Privatization refers to the transfer of ownership or control of public assets (such as companies, services, or infrastructure) from the government to private entities. It often involves selling off state-owned enterprises or contracting out public services.

Related terms

Deregulation: The reduction or elimination of government regulations and restrictions on businesses and industries.

Nationalization:

The process of transferring privately owned assets or industries into public ownership and control.

Public-private partnerships: Collaborations between government entities and private companies to jointly provide goods or services.