Nationalization
/ˌnæʃənələˈzeɪʃən/
Definitions
- (n.) The process by which a government takes private assets into public ownership.
The nationalization of the oil industry occurred to control resources for the public good.
Forms
- nationalisation
Related terms
Commentary
Often used in contexts of economic policy, ensure clarity on government intent and legal authority when drafting.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.