cooperative
n. countablen. a business or organization that is owned and run by the people who work there or use its services. The members share the profits and make decisions together.
n. an enterprise or organization owned and managed collectively by its members, who share in its benefits and profits. Often used in agricultural, housing, or retail contexts to describe a democratic business model.
The local food cooperative sells fresh vegetables from nearby farms.
By joining the housing cooperative, the residents gained more control over their monthly rent and building maintenance.
Small-scale farmers often form a cooperative to increase their collective bargaining power when negotiating prices with large international supermarket chains.
From co- + operative.
Often shortened to 'co-op' in informal or semi-formal contexts.