What is a Worker cooperative vs ESOP

What is an ESOP vs a Worker Cooperative?

As an Ohio attorney that works with cooperatives, I often get asked the question: What is the difference between an ESOP and a Worker Cooperative? ¬†Converting an existing business to a Worker Cooperative or creating an ESOP are two options often explored by business owners interested in succession (or retirement) planning — although a start-up […]

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What is a Worker Cooperative?

A Worker Cooperative (also called a worker-owned or employee-owned cooperative (or coop) is a business that operates pursuant to a cooperative business model which prioritizes its employees and the communities it serves. Some characteristics of a worker cooperative include employees being owners (called “Members”) –that is they receive profits (or loses) from the business as […]

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