cooperatives
n. countablen. businesses or organizations that are owned and run by the people who work there or use their services. Members share the profits and make decisions together.
n. organizations or enterprises owned and democratically controlled by their members, who share in the benefits or profits. Often used in agricultural, housing, or retail contexts.
Local farmers formed cooperatives to sell their produce at better prices.
The city has several housing cooperatives where residents collectively manage the building and keep rents affordable.
By organizing into worker-owned cooperatives, the artisans were able to bypass predatory middle-men and secure a sustainable living wage for their entire community.
Often shortened to 'co-ops' in informal and business contexts.