This article provides a comprehensive look at the area of privatization in Poland. It provides a context and discusses the two major forces that have spurred the privatization process, as well as privatizations carried out in developing countries under the auspices of the World Bank and the IMF. The article begins with an explanation of the background to privatization in the context of state central planning, a discussion of the derivative traits of the command-and-control economy, the collapse of the system in the 1990s, the actions necessitated in society in an attempt to reform and change the system, and the reform strategies that were implement as a response to both the economic and political challenges. The article includes a discussion of the core objectives of the privatization process, the requirements of the privatization process, and an important section dealing with the actions that are necessary and complementary in preparing society and individual entities for privatization. The article concludes with an analysis of the models of privatization that were adopted in the region, along with tables delineating proceeds from privatization; the number of privatizations carried out both world-wide and in the region.