Nationalization is the takeover of ownership and control of a privately owned enterprise by the STATE. States have traditionally taken private property for public purposes, eg, land for construction of roads; but this "right of eminent domain" is in contrast to nationalization, which is often carried out in pursuit of economic, social or political policies, eg, to increase Canadian ownership in the petroleum industry through the takeover of foreign oil companies by the federal crown corporation PETRO-CANADA.