Privatization – this is administrative legal procedure, applicable usually in post-communist countries like Bulgaria. During the process of privatization, governmental assets go in private hands, i.e. – citizens get title of valuable governmental properties. Unfortunately in this particular country this process has been related to huge corruption that led to bankruptcy, bust and termination of many industrial factories and whole economic sectors that were running successfully before the start of the privatization. Nowadays this negative result and outcome speaks enough about the effectiveness of the privatization in a country which has never actually free itself from the communist state rulings.