privateer UK /ˌpɹaɪ.vəˈtɪə/US /ˌpɹaɪ.vəˈtɪɚ/noun 5verb 2forms 3 noun5 •(historical) A privately owned warship that acted under a letter of marque to attack enemy merchant ships and take possession of their cargo. •(historical) An officer or any other member of the crew of such a ship; a government-sanctioned pirate.Kidd soon threw off the character of a privateer and became a pirate. — 1849 •A private individual entrant into a race or competition who does not have the backing of a large, professional team. •A racing team that is not a subsidiary of a large conglomerate, or automotive or vehicle manufacturer. •An advocate or beneficiary of privatization of a government service or activity.Privateers, such as Osborne and Gaebler, promise that good competition will not become bad — will not become cutthroat competition — if good competition is "carefully structured and managed;" — 2001 verb2 •To function under official sanction permitting attacks on enemy shipping and seizing ship and cargo; to engage in government-sponsored piracy. •To advocate or benefit from privatization of government services. formsprivateered · privateering · privateers