Business Los Angeles Times

A cooperative or co-op is a limited-liability business that can organize as for-profit or not-for-profit. A cooperative differs from a corporation in that it has members, not shareholders, and they share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy. Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business.

• We often use this term for indicating transactions concerning an underlying service or product.
• A good business idea should give you the ability to run your business on your own.
• Money is important, but you’ll need more motivation than that to keep going.
• For seasonal properties, you will most likely spend your management time making sure the property is ready for seasonal

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