Buyback is a term that simply refers to the act of repurchasing something. However, in business, it is more specific and relates to a company purchasing its own shares, usually to reduce the number of outstanding shares and increase stock value. This can be done for several reasons such as boosting shareholder confidence or to prevent a hostile takeover. Other synonyms for buyback include share repurchase, stock buyout, or stock redemption. Ultimately, the term "buyback" is relatively straightforward and accurately describes this business practice, but using alternative phrases can add variety and clarity in communication.