Cooperative Society
/[kəʊˈɒpərətɪv səˈsaɪəti]/
Definitions
- (n.) An autonomous association of persons united voluntarily to meet common economic, social, and cultural needs through a jointly owned and democratically controlled enterprise.
The farmers formed a cooperative society to collectively market their produce.
Forms
- cooperative society
- cooperative societies
Related terms
See also
Commentary
Legal definitions of cooperative society often emphasize democratic control and mutual benefit, distinguishing them from traditional corporations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.