cooperative Hear it!

cooperative definition - legal

n

  1. An organization or business enterprise, organized as either an association (cooperative association) or corporation (cooperative corporation), owned by those who use its services. All profits are shared amongst the cooperativeÂ’s members in proportion to the money or labor each member contributed.
  2. A dwelling owned by a cooperative whose members lease their apartments or living quarters from the cooperative. See also condominium.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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