What is it called when something's ownership is taken over by the government?

Nationalization refers to the process by which ownership of private property or businesses is taken over by the government. This typically occurs for various reasons, such as to enable state control over a key industry, to redistribute resources, or to respond to economic crises. When an industry is nationalized, it becomes part of the public sector, meaning the government now holds the rights to operate and manage it for the benefit of the public rather than for individual profit.

In contrast, privatization involves transferring ownership from the public sector (government) to the private sector (individuals or businesses). Expropriation is similar to nationalization but often implies compensation for the seized property and is generally used in the context of acquiring property for public use. Subsidization refers to financial assistance provided by the government to support a business or industry, which is fundamentally different from the concept of ownership transfer.