Definitions

1. verb

to convert or transfer ownership of something, especially a company or service, into private hands; to make something private or restricted to a particular group of people

“The government plans to privatize the state-owned airline to attract more investors.”

2. verb

to take personal or financial control of something, especially a business or industry

“The entrepreneur decided to privatize her startup company to increase profits.”

3. noun

the act of converting or transferring ownership of something into private hands

“The privatization of the railway led to significant losses for the government.”