Definition of "privateering" [pri•va•teer•ing]

• Present participle of privateer. (verb)

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• "It was one of the big reasons for the American Revolution as colonists trying to compete with it were crushed by the crown with taxes and criminal penalties for piracy and privateering trying to trade in tea outside of the British protectionist laws for EIC--that's where the word privateering came from."
• "The "rules" were: (1) privateering is abolished; (2) the neutral flag covers enemy goods, except for contraband; (3) neutral goods, except for contraband, are not liable to seizure when under an enemy flag; (4) a blockade to be binding must be effective in fact."
• "Of course, I’ve promoted the use of the word privateering for something that’s roughly in the neighborhood, but privateering is really suited to a different purpose it has to do with a critique of phony privatization, which is often bundled with, but not identical to, phony deregulation; and it focuses on the phenomenon, not the use of rhetoric around it."