Definition, Meaning & Synonyms
privatize
verb
/ˈpraɪvəˌtaɪz/
Definition
To transfer a public service, business, or asset to private ownership or control.
Examples
- The government decided to privatize the national railway system.
- After the company was privatized, it experienced significant growth.
- Many argue that privatizing public schools can improve education quality.
Meaning
Privatization refers to making something that is owned by the government or the public into something that is owned by private individuals or corporations.
Synonyms
- denationalize
- sell off
- divest
