Privatization

(from lat. privatus - private) - the transfer of state or municipal property for a fee or free of charge to private property. In most cases, P. has a reimbursable character, i.e. before acquiring ownership of any object, a citizen or legal entity must pay a certain amount for the object. P. can be of a hidden nature when it is carried out in the form of a long-term lease of state property by private individuals or companies; may be partial, when, for example, only a certain part of the shares is sold.