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  2. Dictionary

    pri·vate en·ter·prise
    [ˌprīvət ˈen(t)ərˌprīz]
    noun
    private enterprise (noun)
    1. business or industry that is managed by independent companies or private individuals rather than by the state:
      "a boom in private enterprise"
      Opposite:
      state-controlled
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  4. private enterprise n. 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.
    www.thefreedictionary.com/private+enterprise

    Definition: A Private Enterprise is an entity that operates under the ownership and management of individuals that freely decided to develop a given business idea. Its freedom from government intervention is what makes it different from a government institution.

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