The process of taking over private business by government is known as?

The process of taking over private business by the government is known as "nationalisation." Nationalisation occurs when a government takes control of a privately owned company or industry to make it run for the benefit of the general public, rather than for the profit of private owners or shareholders. This may occur in industries that are deemed critical to the functioning of the country, such as transportation, energy, or telecommunications. The government may buy out the private owners or simply take over the assets and operations of the company. The purpose of nationalisation is usually to ensure that essential services remain accessible and affordable to the general public.