There are several types of cooperatives, among them worker cooperatives, consumer cooperatives, agricultural cooperatives, housing cooperatives, credit unions and marketing cooperatives. The LGC is a worker-owned, democratically managed cooperative, where members have joined together to produce goods and services for sale.
The key differences between cooperatives and traditional business structures are those of control and ownership. A cooperative is any business organization, which is owned and controlled through its members. The members are those who participate in the business as consumers, workers, or producers. Membership usually requires the payment of a membership fee. The profits are distributed to the members on the basis of patronage (buying at, working at or selling through the business). Control of the business is exercised by the membership on a one-person/one vote basis.
For more information on Cooperatives check out: