Privatization refers to the transfer of ownership or control of government assets and services to private sector entities. Synonyms for the term 'privatization' include - commercialization, denationalization, divestiture, deregulation, outsourcing, public-private partnerships, and corporate takeover. Commercialization usually refers to the process of introducing a new product or service to the market. Denationalization suggests the change of the ownership of state-controlled entities to private ownership. Divestiture involves the selling of government assets to private companies, while deregulation refers to the reduction of government intervention in business activities. Outsourcing involves contracting third-party entities to provide services that the government once provided. Public-private partnerships (PPP) refer to the collaboration between the public and private sectors to carry out projects or services. Corporate takeover refers to the acquisition of a state-run enterprise by a private company.