A cooperative is defined by the International Cooperative Alliance (ICA) as "an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise". This definition from the 1995 Statement on the Cooperative Identity highlights key aspects like voluntary membership, common needs, and joint ownership and democratic control. In my opinion, this definition of a cooperative contained in the ICA's statement of identity is correct and very good, provided that “joint ownership” is not necessarily interpreted as “collective, not divided ownership”. Just as in the case of capitalist companies, where “joint-stock” does not, of course, mean collective property rights, similarly, in cooperatives, “joint ownership” can mean “collective ownership”, i.e. ownership through the accumulation of capital via collective or indivisible reserves, as in Italy, but it can also mean ownership by a collective of members who each have an individual capital or financial stake in the cooperative's capital. Both solutions (collective capital and individual capital) should be allowed and not ostracised.

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