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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attorney Lisa Nelson explain what is a circular economy

What Is A Circular Economy Business?

A circular economy business will, generally speaking, take something that is considered a waste product and turn it into a viable new product. Instead of traditional linear business models that put stuff in landfills, circular economy businesses aim to keep stuff out.  This regenerative concept is familiar to many nowadays with businesses that recycle, upcycle, […]

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Attorney Lisa Nelson explains 5 different types of business cooperative models

Five Types of Cooperative Business Models

Business owners and organizations forming in Ohio — or those interested in converting to a cooperative business model — can choose from five different cooperative business models.  This is a quick overview of each type.  Click on each type to learn more specifics and see examples. Five Different Types of Cooperative Business Models: You may […]

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Food Justice Campaigner Set to Open Coop Grocery Store

If you need a little inspiration today, let’s talk about a food justice campaigner in Detroit named Malik Yakitini. He is founder of the Detroit Black Food Security Network (DBCFSN), which operates a D-Town Farm, a 7-acre plot, and is getting set to launch a Coop-Grocery store this year.  Since 2016, Malik has been working […]

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What is a Producer Co-op? What are the Advantages to Ohio Enterprises?

Producer cooperatives, sometimes known as marketing coops, are owned by people who offer similar types of goods or services.  Producer cooperatives are popular in Ohio among agricultural (i.e., farms) businesses, where it makes good business sense to pool resources to market products and get perishable goods to consumers efficiently.  Like purchasing coops, the owner-members of […]

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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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Using “Coop”, Co-op”, or “Cooperative” in a Business Name in Ohio

First, let us be clear that the terms “Coop”, Co-op”, or “Cooperative” can be used interchangeably.  However, these terms are umbrella terms that do not necessarily imply the particular legal structure of the business to which they are attached.  For example, business and organizations sometimes use the term “coop” in their business name even though […]

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