Member-Owned Corporation
/ˈmɛm.bər əʊnɜrd ˌkɔːrpəˈreɪʃən/
Definitions
- (n.) A corporation owned and governed by its members, who collectively control its policies and operations, often formed for mutual benefit rather than profit.
The member-owned corporation reinvests earnings to enhance services for all its members.
Forms
- member-owned corporation
- member-owned corporations
Related terms
See also
Commentary
Member-owned corporations emphasize democratic control by members rather than traditional shareholder profit motives; drafting should clarify member rights and governance structures.
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.