We help business founders design the perfect legal architecture that uniquely serves them. We lead successful changes of ownership, including founder exits, development of employee stock ownership or profit participation plans, and planning for business succession through owner retirements.
We also know a lot about Texas Cooperative Associations.
A cooperative is a corporation or association organized for the purpose of providing economic services, without gain to itself, to shareholders or members who own and control it.
Texas has a rich history in recognizing the utility of cooperative organizations of all kinds to create access to resources and improve the relative purchasing and marketing power of members. From 1905 to 1914 the Farmers’ Educational and Co-operative Union sponsored more than 100 cooperative cotton gins and warehouses, and in organizing the cooperative buying of farm supplies.
A cooperative may be formed for many purposes, including acquiring, producing, building, operating, manufacturing, or distributing any type of property, commodities, goods, or services.
Cooperatives may be nonprofit or for-profit corporations operating on a cooperative basis. The defining characteristic of a cooperative is its obligation to distribute net proceeds to its members. The net proceeds are generally distributed to the members in the form of patronage refunds or dividends in amounts determined by the use made by the members of the association facilities.
Cooperatives are generally distinguishable from other business structures by the features of democratic control and voting.