Key characteristics of the corporate form co-operative are:
- value-based instead of profit-based
- owned and run jointly by its members who democratically manage the enterprise.
The International Co-operative Alliance (ICA) defines co-operatives as follows:
A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise. (http://ica.coop/en/what-co-operative - 2017)
Co-operatives exist in developing, emerging and developed countries, where they take various forms and operate in all sectors. See more at: http://monitor.coop/ and http://www.copac.coop/data-explorer/
We emphasize the power and potential of co-operatives because they empower people to be self-determined economic participants.