Cooperative

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Related to Co-operatives: Agricultural cooperatives

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 ?
The Commission, which will be chaired by Professor Andrew Davies is tasked with making recommendations on growing and developing the co-operative and mutual economy in Wales, in order to create jobs and wealth.
The benefits of co-operatives are far-reaching and firmly rooted in ethical and social principles, offering a better way - both economically and socially - of doing business.
And Liberal Democrat Housing Spokesperson Lembit Opik has recognised how housing co-operatives might make a greater contribution: "I'm very pleased to see that the hard work carried out by housing co-operatives is being noticed in setting up the Commission .
Young Co-operatives can now be found from Cornwall to Aberdeenshire and Northern Ireland.
The report sees this ethical dimension as the unique selling point of the co-operative movement, but perhaps unsurprisingly it is pretty critical about just how much co-operation there is in the movement.
In a coop setting, a default can also occur if the borrower fails to pay its monthly maintenance to the co-operative corporation, or adhere to some other material obligation under the proprietary lease.
To return, then, to the details of non-equity housing co-operatives: These continuing housing co-operatives can take the form of single family houses, duplexes, four-plexes, town-house complexes, apartments, or a mixture of these.
What's ironic about co-operatives is that they are everywhere.
Chief Executive of London Capital Credit Union, Martin Groombridge, said: It is great to see that the co-operative economy is looking healthy and it is good news that there has been a surge in the number of people who own and control the UKs co-operatives.
A short drive over the Cumbrian border from Hexham is Alston, Britain's highest market town and home to the largest number of co-operatives per person in the country.
This will be a better vehicle for co-operatives to fully participate in the drive, where no one will be left behind, by redistributing wealth to other sectors of the economy; by so doing fulfilling the seventh co-operative principle of concern for the community.
Wooldale was one of the UK's few remaining small consumer co-operatives and will merge with Central England Co-operative after members voted in favour of the proposal.