Cooperative

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Cooperative

An organization owned by its members. Examples are agriculture cooperatives that assist farmers in selling their products more efficiently and apartment buildings owned by the residents who have full control of the property.

Cooperative

Any organization owned by its members. A cooperative may be a business owned by its employees and/or customers, a residential complex owned by the people who live in it, or even a bank owned by its depositors. Certain legal requirements are incumbent upon cooperatives; for example, there is often a cap on how much of their profits may be distributed. See also: Cooperative economics.

Cooperative (co-op).

A co-op is a corporation that owns a particular residential property. The shareholders are the tenants who, instead of owning an individual unit, own shares in the corporation, which gives them the right to live in that unit.

cooperative

see WORKERS' COOPERATIVE, RETAIL COOPERATIVE.

cooperative

a form of business FIRM that is owned and run by a group of individuals for their mutual benefit. Examples of cooperatives include:
  1. worker or producer cooperatives: businesses that are owned and managed by their employees, who share in the net profit of the business.
  2. wholesale cooperatives: businesses whose membership comprises a multitude of small independent retailers. The prime objective of such a group is to use its combined BULK-BUYING power to obtain discounts and concessions from manufacturers, similar to those achieved by larger SUPERMARKET chains.
  3. retail cooperatives: businesses that are run in the interest of customers, who hold membership rights entitling them to receive an annual dividend or refund in proportion to their spending at the cooperative's shops.

See WHOLESALER, RETAILER, DISTRIBUTION CHANNEL.

References in periodicals archive ?
Items purchased through the branches of the Abu Dhabi Cooperative Society will be directly and immediately delivered to customers through the same branch of the Society," explained Al Qubaisi.
The Emirates Cooperative Society secured the second position as well as the runner and awarded with the cash prize of AED 5,000.
Ali Kurji, chief executive of the Heart of England Cooperative Society, said: "Once again we are delighted to partner the Coventry Telegraph with the Pamper With A Hamper campaign through our Helping Hearts Award scheme.
Union Coop manages Ajman Markets Cooperative Society in Ajman, the Armed Forces Society in Abu Dhabi and Umm Al Quwain Cooperative Society.
He also praised the cooperation of Al Hilal Bank and the facilities that have been provided to the Cooperative Society, and hoped that this collaboration will be mutually beneficial.
Speakers in the session include Khaled Al-Muhaideb, a legal adviser and a former member of the board of directors of the Water Desalination Workers' Cooperative Society in the Eastern Province; and Khaleel Buhuzae, representative of the social affairs office of the Council of GCC Ministers of Labor and Social Affairs.
The Channel Islands Cooperative Society has reported a 5.
John joined Midlands Cooperative Society in 1998 as Retail General Manager and in 2001 became the society's Chief General Manager.
Summary: Al Islami Foods, a leading halal food producer in the region, has signed an agreement with Sharjah Cooperative Society to set up meat shops at the Sharjah Coop retail outlets.
JUTC) takes over the National Transport Cooperative Society routes, says Minister of Transport and Works, Dr.
today announced that the company has entered into a joint venture agreement with NTUC Voice Cooperative Society Ltd.
In addition, he is the Chairman of the Harvard Cooperative Society and of the Controlled Risk Insurance Company/Risk Management Foundation (CRICO/RMF); and a Director of the Harvard Cooperative Society, the Beth Israel Deaconess Medical Center, CRICO/RMF, Adveq (Switzerland), Explorations, Inc.

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