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 ?
Mr Makgalemele noted that the idea was implementable as it had been done in other countries such as Tanzania, where co-operative societies had set up the Kilimanjaro Co-operative Bank.
The co-operative movement, from 1960 onwards, took a downturn and ended up as instrument of manipulation of the less well-off segments of the Cyprus population in the hands of the political parties.
County Executive Committee Members for Trade and Co-operative, the Act says, will, among other things, oversee implementation of policies and strategies of co-operative societies while a directorate will be formed to oversee the implementation of the law.Stakeholders say the county assembly failed to recognise that some co-operative societies have countrywide membership, and this might cause confusion in their regulation.
Wales needs to take inspiration from the co-operative success of its Scottish and Irish counterparts when it comes to creating a more resilient Welsh agrifood sector post-Brexit, according to the country's leading development agency for co-operative and social enterprise.
Its 40 workers will be transferred to Central England Co-operative. The society's 2,000 members will also be transferred.
The funding from the Welsh Government is critical to building on the excellent progress that has already been made with co-operative housing here in Wales.
In the Co-operatives UK report, Lord Curry of Kirkharle said: "As the agricultural market becomes increasingly global, we need to identify new opportunities to boost profitability for the UK's farmers.
MEMBERSHIP of co-operative businesses in the UK has reached a record level - equivalent to a third of the country's adult population, a new report reveals.
Mainly in the last decade, Mondragon has also created and acquired conventional investor-owned firms that are not (or not yet) co-operatives. Therefore, the group now includes around 45 000 non-member workers.
Ben Reid, chief executive of The Midcounties Co-operative, said: "As a member-owned society, this award win is particularly important to us because it was voted for by our members and shows that they are really excited and engaged with the work we're doing in their local community and to help the environment.
"The Centre also looks forward to working with the Finance Minister to establish a pilot project to demonstrate how public procurement can help grow new co-operatives and mutuals in Wales," he added.
John Curl's book is to be welcomed for its efforts to catalogue the various forms of co-operatives and communalism in the USA over its entire recorded history.