Takeover of privately owned corporations, industries, and resources by a government with or without compensation. Common reasons for nationalization include (1) prevention of unfair exploitation and large-scale labor layoffs, (2) fair distribution of income from national resources, and (3) to keep means of generating wealth in public control.

Use nationalization in a sentence

  • To become a citizen, she had to go through the nationalization process, which would take some time and some effort.

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  • The nationalization of the company was unexpected but we prepared for this moment so we simply worked our plan and adapted.

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  • If you are buying a foreign company you should know the entire nationalization process before hand so you are ready for it.

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