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  • d Cooperatived
  • An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically controlled enterprise. The legal structure of cooperative can function as a separate legal person that owns property, takes out loans and benefits its members.

    Cooperatives adhere to a set of values, including self-help, self-responsibility, democracy, equality, equity, solidarity, honesty, openness, social responsibility and caring for others. Accordingly, cooperatives operationalize seven basic principles:

    Principle 1: Voluntary and open membership

    Principle 2: Democratic member control

    Principle 3: Member economic participation

    Principle 4: Autonomy and independence

    Principle 5: Education, training and information

    Principle 6: Cooperation among cooperatives

    Principle 7: Concern for community.[1]

    [1]    International Labour Organisation, Promotion of Cooperatives Recommendation, 2002 (No. 193), at: