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The Collaborative International Dictionary of English v.0.48:

Utilize \U"til*ize\, v. t. [imp. & p. p. Utilized; p. pr. & vb. n. Utilizing.] [Cf. F. utiliser.] To make useful; to turn to profitable account or use; to make use of; as, to utilize the whole power of a machine; to utilize one's opportunities. [1913 Webster] In former ages, the mile-long corridors, with their numerous alcoves, might have been utilized as . . . dungeons. --Hawthorne. [1913 Webster]