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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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