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private enterprise

The definition of a private enterprise is a privately owned business or industry run independently of the government.

(noun)

An example of private enterprise is a clothing boutique.

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See private enterprise in Webster's New World College Dictionary

free enterprise

See private enterprise in American Heritage Dictionary 4

noun
  1. Business activities unregulated by state ownership or control; privately owned business.
  2. A privately owned business enterprise, especially one operating under a system of free enterprise or laissez-faire capitalism.

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