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Privateering refers to privately owned armed ships or privateers that were authorized by governments during wartime to attack enemy shipping and seize ships and cargo as prizes. Privateers operated under letters of marque and reprisal, which granted legal authority to capture enemy vessels and bring them before admiralty courts for prize condemnation and reward distribution to owners, investors, and crew.

Throughout the 16th to early 19th centuries, privateering was used by several maritime powers, notably England,

Legal distinction from piracy rested on government licensing; privateers operated under commissions that could be revoked.

Decline followed the 19th-century push for codified rules of warfare. The Declaration of Paris (1856) proscribed

Today privateering is regarded as obsolete under modern international law, and naval warfare relies on official

France,
the
Netherlands,
and
Spain,
as
a
way
to
augment
naval
power
and
disrupt
enemy
trade
without
maintaining
large
fleets.
Privateers
often
attacked
commerce
rather
than
fighting
navy
ships,
and
prize
money
provided
economic
incentives.
Notable
privateers
include
Sir
Francis
Drake
and
other
Elizabethan-era
figures;
during
the
American
War
of
1812,
American
privateers
captured
many
British
merchant
vessels.
Prizes
were
adjudicated
by
prize
courts,
with
condemned
ships
and
cargo
shared
among
sponsors
and
crew
after
legal
costs.
privateering
among
its
signatories,
and
by
the
20th
century
privateering
had
largely
ceased,
though
some
states
never
ratified
the
treaty.
The
United
States
did
issue
letters
of
marque
during
the
War
of
1812
and
the
Civil
War
era,
but
privateering
is
now
illegal
in
most
jurisdictions.
armed
forces
and
private
security
contractors
for
related
functions,
rather
than
state-sanctioned
private
warships.