Definition, Meaning & Synonyms

privatized

verb

‘praɪvəˌtaɪzd

Definition

Converted from public ownership to private ownership.

Examples

The state-owned company was privatized to improve efficiency.
Many public schools have been privatized, leading to debates about educational quality.
After the privatization, the service became more competitive and customer-focused.

Meaning

Privatized refers to the process of transferring ownership of a business, public service, or public property from the government to private individuals or organizations.