{"iri":"https://folio.openlegalstandard.org/RCIBJRAcSodX6OGvtioSZLY","label":"Privatization","sub_class_of":["https://folio.openlegalstandard.org/R7Rdvjz7Q76QLZXnSJ66z40"],"parent_class_of":[],"is_defined_by":null,"see_also":[],"comment":null,"deprecated":false,"preferred_label":"Private Sector Integration","alternative_labels":["Denationalization","Private Sector Takeover"],"translations":{},"hidden_label":null,"definition":"Privatization is the process of transferring ownership and management of a business, enterprise, or public service from the government to private individuals or entities. This often aims to improve efficiency, foster competition, and reduce public sector burden.","examples":[],"notes":[],"history_note":null,"editorial_note":null,"in_scheme":null,"identifier":null,"description":null,"source":null,"country":null}