Cooperative

{
  "id": "MLC-T-LAW-001302",
  "term": "Cooperative",
  "field": "Law",
  "definition": "A business entity that is owned and operated by the people who use its services, known as its members. Members share in the control of the organization, with one vote per member, and profits or earnings are distributed among them in proportion to their use of the cooperative. Cooperatives are structured under specific state statutes and are guided by principles like democratic member control and voluntary membership.",
  "url": "https://mlchart.com/terminology/law/cooperative/"
}