Business activities unregulated by state ownership or control; privately owned business.
A privately owned business enterprise, especially one operating under a system of free enterprise or laissez-faire capitalism.
American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.