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From The Collaborative International Dictionary of English v.0.48:
Neutralization \Neu`tral*i*za"tion\, n. [Cf. F. neutralisation.] 1. The act or process of neutralizing, or the state of being neutralized. [1913 Webster] 2. (Chem.) The act or process by which an acid and a base are combined in such proportions that the resulting compound is neutral. See Neutral, a., 4. [1913 Webster]