Privatization
type: Class
preferred label: Private Sector Integration
alternative label: Denationalization
alternative label: Private Sector Takeover
subclass of: R7Rdvjz7Q76QLZXnSJ66z40
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.