pri·va·teer

[prahy-vuh-teer]
noun
1.
an armed ship that is privately owned and manned, commissioned by a government to fight or harass enemy ships.
verb (used without object)
3.
to cruise as a privateer.

Origin:
1640–50; private + -eer, modeled on volunteer

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Based on the Random House Dictionary, © Random House, Inc. 2013.
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Collins
World English Dictionary
privateer (ˌpraɪvəˈtɪə) [Click for IPA pronunciation guide]
 
n
1.  an armed, privately owned vessel commissioned for war service by a government
2.  Also called: privateersman a commander or member of the crew of a privateer
 
vb
3.  a competitor, esp in motor racing, who is privately financed rather than sponsored by a manufacturer
4.  (intr) to serve as a privateer

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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00:10
Privateers is always a great word to know.
So is flibbertigibbet. Does it mean:
a chattering or flighty, light-headed person.
a screen or mat covered with a dark material for shielding a camera lens from excess light or glare.
Etymonline
Word Origin & History

privateer
1664, originally private man of war (1646), from private, probably modeled on volunteer, buccaneer.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
But many crews of privateers returned home with little to show for their
  efforts.
Check out the artifacts from real pirates and privateers of the high seas.
However, the privateers reckon that these are outweighed by managerial
  complacency.
So dear is the need for health care, that the privateers who furnish insurance
  have thriving businesses.
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