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A worker cooperative is a cooperative owned and self-managed by its workers.This control may mean a firm where every worker-owner participates in decision-making in a democratic fashion, or it may refer to one in which management is elected by every worker-owner who each have one vote.
Shares are allocated to employees and may be held in an ESOP trust until the employee retires or leaves the company. The shares are then sold. Worker cooperatives are another form of employee ownership wherein workers are exclusive owners and managers of the firm, with one vote per employee in democratic decision-making.
The University of Wisconsin Center for Cooperatives was founded in 1962, which was possibly the first organization to collect data on cooperatives. In 2000, the Democracy Collaborative was created out of the University of Maryland, [ 11 ] which – among other things – facilitates the creation and development of cooperatives.
Economics of participation is an umbrella term spanning the economic analysis of worker cooperatives, labor-managed firms, profit sharing, gain sharing, employee ownership, employee stock ownership plans, works councils, codetermination, and other mechanisms which employees use to participate in their firm's decision making and financial results.
In Spain, since the law does not subject cooperatives to the collective agreements or to the social security regulations, the following scheme has been used: if a business wants to pay less than what the sector agreement of its economic sector establishes, the business can create a cooperative, which is not subjected to it, hire all the workers ...
Rainbow Grocery Cooperative, San Francisco, CA; Red Emma's Bookstore Coffeehouse, Baltimore, MD [11] Seward Community Cafe, Minneapolis, MN [12] TESA Collective; The Drivers Cooperative, New York City
A worker co-operative is a co-operative owned and democratically controlled by its employees. There are no outside- or consumer-owners in a worker co-operative. Only the workers own shares of the business. It is estimated that there are approximately 403 worker owned and controlled co-operatives in the United Kingdom.
Canadian University Press is a non-profit co-operative and newswire service owned by almost 90 student newspapers at post-secondary schools in Canada. Gay Lea Foods Co-operative Limited is a dairy products company in Canada producing butter, sour cream, cottage cheese, whipped cream and lactose free milk for retail, foodservice, industrial and ...