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LSDefine

Simple English definitions for legal terms

co-operative (co-op)

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A quick definition of co-operative (co-op):

Co-operative (Co-op): A type of business where people work together to meet a common need. It's different from other businesses because it's run democratically, which means everyone has a say in how things are done. Co-ops can be found in many areas of the economy, such as stores, utilities, banks, housing, agriculture, and work.

A more thorough explanation:

A co-operative, or co-op, is a type of business organization that is typically governed by state law. However, some federal laws may also apply to certain co-ops. Unlike corporations and other business entities, co-ops are essentially democratic in nature and focus on meeting the common needs of their members rather than fulfilling the fiduciary needs of shareholders.

Co-operatives can be found in various sectors of the economy, including:

  • Consumer co-ops: These co-ops operate businesses such as food stores, bookstores, and hardware stores that are owned and controlled by their members.
  • Rural utility co-ops: These co-ops provide utility services such as electricity, water, and telecommunications to rural areas.
  • Credit unions: These co-ops offer financial services such as savings accounts, loans, and other banking services to their members.
  • Housing co-ops: These co-ops provide affordable housing to their members, who collectively own and manage the properties.
  • Agricultural co-ops: These co-ops are involved in the supply, marketing, and manufacture of agricultural products, and are owned and controlled by farmers.
  • Worker co-ops: These co-ops are owned and controlled by their employees, who share in the profits and decision-making of the business.

For example, a consumer co-op like a food store is owned and controlled by its members, who have a say in the store's operations and share in its profits. Similarly, a housing co-op allows its members to collectively own and manage their housing, providing affordable housing options. These examples illustrate how co-operatives prioritize the needs of their members over the interests of shareholders.

cloud on title | COBRA

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General

General chat about the legal profession.
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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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