Outline two differences between a co-operative and a limited company - Leaving Cert Business - Question A - 2007

Democratic Structure: A co-operative is democratically run, where each member has an equal say, typically encapsulated by the principle of 'one person, one vote'. In contrast, a limited company operates on a shareholder basis, where voting power is often proportional to the number of shares owned (one share, one vote).

Management: Co-operatives are governed by an elected management committee made up of its members, ensuring that leadership is represented by those who have a direct stake in the operations. Conversely, a limited company is managed by a Board of Directors, which may include external individuals who are not shareholders.