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Definition of Cooperative:

Cooperatives are associations of people working towards a common goal; it can be social, economic, cultural, or economic in nature. Types of cooperatives include housing cooperatives, worker cooperatives, consumer cooperatives, retail cooperatives, credit unions, multi stakeholders cooperatives  and so on. 

If you consider worker cooperatives, they are companies managed by the workers, either directly or indirectly. There may not be any hierarchy in such cooperatives, or the workers elect their own decision makers.

7 Principles that guide all Cooperatives: 

According to the International Co-operative Alliance, Cooperatives are run based on principles of self-help, self-responsibility, democracy, equality, equity, and solidarity. They believe and value honesty, openness, social responsibility and caring for others. 

To put the values to practice, these are their 7 guidelines: