Dictionary

privatize

verb pri·vat·ize \ˈprī-və-ˌtīz\

: to remove (something) from government control and place it in private control or ownership

Full Definition of PRIVATIZE

transitive verb
:  to make private; especially :  to change (as a business or industry) from public to private control or ownership
pri·vat·i·za·tion \ˌprī-və-tə-ˈzā-shən\ noun

Examples of PRIVATIZE

  1. The city decided to privatize the municipal power company.
  2. a proposal to privatize the health-care system

First Known Use of PRIVATIZE

1948

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