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Cooperative society

Definition: In Britain, a cooperative society is a commercial organization with several shops in a particular district. Customers can join this organization and get a share of its profits.

* All seven elements would be in.

1. Purposeful and necessary for the owners.

2. Registered legally and established formally.

3. Has a free-entry, free-exit policy; voluntary membership.

4. Benefits or gains outweigh the costs and expenses of joining.

5. Administered and organized properly and within known rules.

6. Fulfils its obligations, performs corporate social responsibility.

7. Serves purpose(s), exactly as hoped for by the members.

See perfect DEAL-MAKER.

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