# Privatization

**IRI:** https://folio.openlegalstandard.org/RCIBJRAcSodX6OGvtioSZLY

## Labels

**Preferred Label:** Private Sector Integration

**Alternative Labels:**

- Denationalization
- Private Sector Takeover

## 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.

## Sub Class Of

- https://folio.openlegalstandard.org/R7Rdvjz7Q76QLZXnSJ66z40

**Deprecated:** False