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A cooperative or co-op is a limited-liability business that may arrange as for-profit or not-for-profit. A cooperative differs from a company in that it has members, not shareholders, and so they share decision-making authority. Cooperatives are typically categorized as either shopper cooperatives or employee cooperatives. Cooperatives are fundamental to the ideology of economic democracy. In most forms of partnerships, every companion has limitless liability for the money owed incurred by the business. The three most prevalent forms of for-profit partnerships are common partnerships, restricted partnerships, and restricted legal responsibility partnerships.
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