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 ?
Division of earnings: The cooperative will market the produce and distribute its net earnings as patronage dividends to the three members, based on the business done with the cooperative by each member's respective grower-shareholders.
The Silver Spring Cooperative Nursery School is one focus not only because it provided copious documentation but also because it served as a model for schools across the country when it began publishing handbooks in the early 1940s.
Cooperatives executive Esther Mutai thanked the county leadership for the support offered to her department.
"The DOE sees the need to further evaluate and assess the present status and performance of the 17 electric cooperatives," he said.
Since liberalisation, the Government of Uganda has taken considerable efforts to ensure the survival of cooperatives. Currently cooperatives are organised under the Uganda Cooperative Alliance (UCA), whose focus has been to strengthen grassroots farmer organisations.
Atikur Rahman, convener of Naya Samobay Andolon and cooperative researcher, talking to the News Today said that the government now should form a separate cooperative commission in a bid to give a boost to the country's cooperative sector.
As such Abdul Fattah hoped that the new government would continue to stay committed in developing and empowering the cooperative sector in the country to help members receive the appropriate benefits.
He added that economic conditions of the people can be improved by further activating the cooperative organizations.
Dispensation of speedy justice and resolution of the citizens' complaints would be ensured through one window operation at the facilitation centers, he said this while inaugurating the facilitation center at Cooperative department Rawalpindi.
The 21 cooperatives that made the cut are the following:
Dreyer, regarded as a model cooperative leader and mentor to generations of fellow cooperators, died in October at his home in Springfield, Va.

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