wex articles

Co-operative (Co-op)

A form of business organization.  Though generally a creature of state law, some federal laws apply to some co-ops as well.  Co-ops differ from corporations and other business organizations both in their essentially democratic nature and in that their focus is not primarily to fulfill the fiduciary needs of shareholders but to meet some common need of members.  There are exceptions to this general rule.

Bargaining unit

A group of employees who have a clear and identifiable community of interests with one another and that are represented by a single labor union in dealings with management such as collective bargaining.  The "appropriateness" of a bargaining unit is determined at the discretion of the Regional Director of the Board.


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