Privatisation
/ˌprɪvətʌɪˈzeɪʃən/
Definitions
- (n.) The transfer of ownership, property, or business from the government to the private sector.
The privatisation of the national railways aimed to improve efficiency and reduce public expenditure.
Related terms
See also
Commentary
The spelling 'privatisation' is common in British English, with 'privatization' as the American English variant.
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.