Cooperative

A cooperative is owned by its members and acts on behalf of its members, with the objective of economic gain, which can be profits, but also cost savings or another advantage, such as generating sustainable energy.

The cooperative is a legal entity and therefore responsible for its own actions. Like the private or public limited company, the members are responsible for their own contribution. In a cooperative, agreements can be made whereby possible losses or liability are partly borne by the members.

A cooperative has to be incorporated by at least two persons and is registered in the Trade Register. A civil-law notary has to be involved. He or she shall record the articles of association of the cooperative in a deed of incorporation.