What term describes the process of transferring government-owned businesses to private ownership?

The process of transferring government-owned businesses to private ownership is known as privatization. This term refers specifically to the shift of assets or services from public (government) control to private sector control, often with the intention of increasing efficiency, fostering competition, and enhancing service delivery.

Privatization can occur through various methods, including selling state-owned enterprises to private individuals or corporations, outsourcing public services to private entities, or establishing public-private partnerships. The primary goal is often to improve performance and reduce fiscal burdens on the government.

Nationalization, by contrast, is the opposite process, where private assets are acquired by the government. Public ownership simply refers to ownership by the government rather than by private individuals or companies. Regulation involves government oversight and can apply to industries regardless of whether they are publicly or privately owned. Each of these terms represents distinct concepts related to the ownership and management of businesses and services.