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 ?
The Abu Dhabi Cooperative Society has to deliver food items to citizens who buy their items through the existing customer service centres available at its various branches.
Mohammed Khalifa Al Hamli, Chairman of Al Dhafra Cooperative Society, said: "We value our partnership with ADIB, which is helping Al Dhafra Cooperative Society to implement the economic development strategy of the Western Region Development Council.
MEPs therefore welcome the Commission's intention to simplify the regulation on the European cooperative society while strengthening the elements that specifically affect the cooperative aspect.
The champion, Sharjah Cooperative Society, grabbed the 1st position and awarded with the golden glowing Al Islami Retail Football Cup and a cash prize of AED 10,000.
No cooperative society shall issue any 'allotment letter' or possession certificate to its members unless it has physical possession of land against which such letter or certificate is to be issued.
Ras Al Khaimah - With just over a month left for the holy month of Ramadan to begin, the Ras Al Khaimah Cooperative Society has announced lucrative discounts on essential commodities.
Union Coop manages Ajman Markets Cooperative Society in Ajman, the Armed Forces Society in Abu Dhabi and Umm Al Quwain Cooperative Society.
ADIB CEO Tirad Al-Mahmoud, and Mohammed Khalifa Al Hamli, Chairman of Al Dhafra Cooperative Society signed the agreement in the presence of Mohammed Al Fahim, Head of Government and Public Sector, and Al Dhafra CEO Saif Al-Hamli at ADIB s head office.
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.
Prominent economist Muhammad Dulaim Al-Qahtani noted that the first cooperative society in Saudi Arabia was founded in 1962 in Diri'ya, near Riyadh.
Emirates Cooperative Society, a leading supermarket chain in Dubai, said it will sell all essential food and non-food items at a lower price for a limited period as part of its latest promotion.
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.

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