3 ms·

Isn't a coop just an employee owned company?

• s1artibartfast 3y ago
  Worker co-ops are employee-owned companies, but not all employee owned companies are co-ops. The point that I was highlighting was that it comes down to the Articles of Incorporation and how ownership is managed on an ongoing basis. What happens when someone retires or you hire someone new. If I were to retire and simply give my company to my 10 employees, Nothing would stop them from hiring new employees and not sharing ownership, leaving the company and keeping ownership, or selling their ownership to a third party.
  • xeromal 3y ago
    I appreciate the extra information and that's exactly what I was looking for with my question. Makes total sense.