Nationalization of foreign investments may take several forms: the assets of the nationalized companies may be transferred to the state; or only the share capital may be transferred, leaving the company to continue operations under state controls. The process may be undertaken in an arbitrary manner with little or no compensation of foreign investors, or through compensation in non-convertible currencies. Typically, nationalization is applied to a particular foreign-owned enterprise if domestically-owned enterprises in the same sector do not exist.