| Summary: | The paper traces the regulatory evolution of the processes of exploitation, transfer and rationalization of public assets, highlighting the different philosophies underlying the numerous regulatory interventions over the years, the first characterized by an essentially business approach, which aimed to ensure the monetization of assets in order to deal with more immediate budgetary needs. The second, which was more reluctant to assert itself, gives greater consideration the welfare of the community with the consequent provision of processes which rather than aiming at the mere sale of assets seek to properly exploit them within integrated programs provided by the public proprietors (bodies). And it is in this context that the characteristics of securitization processes and their criticalities, as well as the new instruments such as the long lease for exploitation, have been analyzed.
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