I think it's still a useful term. To make a company socialist, all you have to do is distribute the companies shares to the workers, rather than shareholders. N

I think it's still a useful term. To make a company socialist, all you have to do is distribute the companies shares to the workers, rather than shareholders. Now you have a co-op and the workers own the means of production, and can vote on the board of directors or set it up however, since they own it.