Privatization is the process of transferring ownership of a business, service, or property from the government to private individuals or organizations. This can involve selling off state-owned enterprises, outsourcing public services to private companies, or contracting out government functions to private entities. The goal of privatization is often to increase efficiency, reduce costs, and improve management of the assets or services being transferred. However, privatization can also be controversial, as it may lead to job losses, reduced access to services for certain populations, or concerns about accountability and transparency.