What is an organization owned by many people?

Answer 1

An organization owned by many people is typically referred to as a cooperative or a mutual organization. In such entities, ownership is shared among members who contribute to and benefit from the organization’s activities, often emphasizing democratic decision-making. Examples include credit unions, agricultural co-ops, and worker cooperatives, where profits and responsibilities are distributed among the members. This structure fosters collaboration and aligns the interests of the owners with the goals of the organization.