PUBLICOWNERSHIP

Public ownership

Public ownership is the concept of a community taking possession of assets or an enterprise to achieve an aim that cannot be achieved through private property, typically in pursuit of the public interest or social justice. The public owner could be a local municipality or council, the government of a nation state, or a supra-national organisation. The process of creating a publicly owned enterprise is variously described as nationalisation, socialisation, municipalisation, in contrast to the returning assets to private parties through privatisation.

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public ownership

Noun

  1. ownership of an industry by the people or the state; nationalisation


The above text is a snippet from Wiktionary: public ownership
and as such is available under the Creative Commons Attribution/Share-Alike License.

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