This word is acceptable for play in the US & UK dictionaries that are being used in the following games:

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v. Present participle of conceptualize.

"So, to the best of my knowledge, the government once attempted to create a new term conceptualizing the MBCP in an easy-to-remember manner, such as the well-known sunshine policy."

conceptualized    conceptualizes    conceptualizing   

create by mental act    create mentally   

discover    preconceive    find    design   

conceive    conceive of    conceptualise    ideate