"Privateer" has two more common meanings: - State funded sea pirates, esp. during the 17th and 18th centuries - In motorsports, a team which is funded by a pr

"Privateer" has two more common meanings: - State funded sea pirates, esp. during the 17th and 18th centuries - In motorsports, a team which is funded by a private individual or group instead of a public corporation "Financial independance" is the correct modern term.