The separation into two liquid phases in
colloidal systems. The phase more concentrated in
colloid component is the coacervate, and the other phase is the
equilibrium solution.
Source:
PAC, 1972, 31, 577
(Manual of Symbols and Terminology for Physicochemical Quantities and Units, Appendix II: Definitions, Terminology and Symbols in Colloid and Surface Chemistry)
on page 611