The process by which a government takes ownership and control of private industry or assets, converting them into public ownership, is a strategic move often driven by the desire to safeguard national interests, ensure equitable resource distribution, or stabilize critical industries during economic crises. Triggers for this action include economic downturns, political shifts toward socialism or populism, failures of privatized sectors to serve public needs, and strategic considerations such as ensuring control over natural resources, utilities, or key infrastructure. Through this approach, governments aim to protect jobs, maintain essential services, and promote economic stability and national security.

Several key activities, starting with the government's decision to take control of a private entity or industry. This often involves legislative action to authorize the takeover, followed by the negotiation of compensation for the affected private owners. The transition includes restructuring the management and operations to align with public sector practices and goals. The government must also establish regulatory frameworks and oversight mechanisms to ensure transparency, accountability, and efficiency. In many cases, it involves integrating the workforce into public sector employment terms and conditions, addressing labor relations, and ensuring continuity of services.