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What does nationalization mean?

Looking for the meaning or definition of the word nationalization? Here's what it means.

Noun
  1. American and Oxford British English standard spelling of nationalisation.
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The Security Council convened a meeting to declare that the nationalization of Iranian oil was a threat against international peace and security.
Originally discovered by Chevron in 1946, operatorship of the field was turned over to PDVSA following nationalization.
In purely distributional terms, these wage earners have little to gain from nationalization or socialization.
Tyler Cowen makes the important point that when it comes to nationalization, nationalizing one bank isn't the problem.
Irish finance experts have called this the nationalization of the Irish banking system.
Summers pointed to the example of Sweden, which was regularly cited by economists who favored nationalization.

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