worker cooperative
A worker cooperative is a cooperative self-managed by its workers.
Purpose: To maximize net and real worth of all owners. Organization: Organized and controlled by worker-members. Incorporated under relevant incorporation laws - varies by country. Only worker-members may own stock, one share per member. No public sale of stock . Ownership: Worker members.
Control: By worker members. Policy set by directors elected by worker-members, or by assembly of worker-members. One person, one vote. Proxy votes seldom allowed.
Sources of capital: By members or lenders who have no equity or vote. From net earnings, a portion of which are set aside for reinvestment.
Distribution of net margin: To members after funds are set aside for reserves and allocated to a collective account.
Capital dividends: Limited to an interest-like percentage set by policy.
Operating Practices: Workers set production schedules either through elected boards and appointed managers or directly through assemblies. Working conditions determined by labour law and assembly of worker-members, or internal dialogue between members and managers.
TAX Treatment: Special tax treatment in some jurisdictions.
Sources of capital: By members or lenders who have no equity or vote. From net earnings, a portion of which are set aside for reinvestment.
Distribution of net margin: To members after funds are set aside for reserves and allocated to a collective account.
Capital dividends: Limited to an interest-like percentage set by policy.
Operating Practices: Workers set production schedules either through elected boards and appointed managers or directly through assemblies. Working conditions determined by labour law and assembly of worker-members, or internal dialogue between members and managers.
TAX Treatment: Special tax treatment in some jurisdictions.
Multimedia
Defying the Crisis - The Spanish Collective Mondragón
How Worker Cooperatives Work
