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When the goverment (the communist party) takes the factories(ect) and others means of production from their owners for the greater good.
Down the bourgeoisie, seize the means of production!
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Not to be confused with "Seize the means of reproduction," to seize the means of production means to go after, and/or get what you want after some work. Usually if your doing something big in your life, or in general.
Go get that shit!
You: After college, I can't wait found my company that's inspired Microsoft, named Megahard.
Best friend: Aww man that's a great idea! Seize the means of production my man!
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