▁full ▁sale ▁of ▁a ▁state - owned ▁enter prise ▁or ▁municip ally ▁owned ▁corpor ation ▁to ▁private ▁own ers ▁shares ▁may ▁be ▁trad ed ▁in ▁the ▁public ▁market ▁for ▁the ▁first ▁time , ▁or ▁for ▁the ▁first ▁time ▁since ▁an ▁enter prise ' s ▁previous ▁national ization . ▁The ▁second ▁such ▁type ▁of ▁priv at ization ▁is ▁the ▁dem ut ual ization ▁of ▁a ▁mut ual ▁organization , ▁co oper ative , ▁or ▁public - private ▁partners hip ▁in ▁order ▁to ▁form ▁a ▁joint - stock ▁company . ▁ ▁Et ym ology ▁ ▁The ▁Econom ist ▁magazine ▁introduced ▁the ▁term ▁" priv at isation " ▁( altern atively ▁" priv at isation " ▁or ▁" rep riv at isation " ▁after ▁the ▁German ▁) ▁during ▁the ▁ 1 9 3 0 s ▁when ▁it ▁covered ▁Naz i ▁Germany ' s ▁economic ▁policy . ▁It ▁is ▁not ▁clear ▁if ▁the ▁magazine ▁coinc ident ally ▁invent ed ▁the ▁word ▁in ▁English ▁or ▁if ▁the ▁term ▁is ▁a ▁loan word ▁from ▁the ▁same ▁expression ▁in ▁German , ▁where ▁it ▁has ▁been ▁in ▁use ▁since ▁the ▁ 1 9 th ▁century . ▁ ▁Definition ▁ ▁The ▁word ▁priv at ization ▁may ▁mean ▁different ▁things ▁depending ▁on ▁the ▁context ▁in ▁which ▁it ▁is ▁used . ▁It ▁can ▁mean ▁moving ▁something ▁from ▁the ▁public ▁sphere ▁into ▁the ▁private ▁sphere , ▁but ▁it ▁may ▁also ▁be ▁used ▁to ▁describe ▁something ▁that ▁was ▁always ▁private , ▁but ▁heavily ▁reg ulated , ▁which ▁becomes ▁less ▁reg ulated ▁through ▁a ▁process ▁of ▁der