Definition of privateers:
(n) :
(historical) A privately owned warship that acted under a letter of marque to attack enemy merchant ships and take possession of their cargo.
(n) :
(historical) An officer or any other member of the crew of such a ship; a government-sanctioned pirate.
(v) :
To function under official sanction permitting attacks on enemy shipping and seizing ship and cargo; to engage in government-sponsored piracy.
(n) :
An advocate or beneficiary of privatization of a government service or activity.
(v) :
To advocate or benefit from privatization of government services.
(n) :
(motor racing, chiefly Canada, US, Australia) A private individual entrant into a race or competition who does not have the backing of a large, professional team.