What is a cooperative (versus a regular corporation, partnership, or sole proprietor ownership)?
The hallmark of a retail cooperative is that it is a business owned by a large number of community members or patrons who have come together to run the store. Individuals become owners by purchasing equity in the store. Purchasing equity confers certain rights and responsibilities on the individual: a member-owner has the right to vote on Board of Directors, to run for the Board, to vote on various other issues or petition the Board; s/he may enjoy patronage refunds or special discounts; s/he has a responsibility to participate in the cooperative to the extent s/he is able and willing, giving input and guidance, and accepting a certain amount of risk by investing in the venture. Cooperatives differ from other sorts of businesses primarily via this owner relationship. Traditional corporations sell shares of their stock, and the more shares one owns, the more votes one gets (as well as the more dividend payments one gets, and the more risk one takes). Cooperatives are a one-person, one-v
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