(n) a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners, Syn. co-op
a. Operating jointly to the same end. [ 1913 Webster ]
Cooperative society, a society established on the principle of a joint-stock association, for the production of commodities, or their purchase and distribution for consumption, or for the borrowing and lending of capital among its members. -- Cooperative store, a store established by a cooperative society, where the members make their purchases and share in the profits or losses. [ 1913 Webster ]