Steward Ownership: The Basics of Cooperatives: Types, Financial Models, Funding Options, and Legal Formations – The Journey of Linda Phillips

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You may be excited to consider a cooperative model. If you’ve seen our case studies, you know how effective and useful they are. However, there's more to it than restructuring and diversifying your ownership—you also need to know the legal considerations, including tax and revenue allocations. In the United States, there are still several states with poor co-op laws. Do the research and know where your cooperative can work best.

Linda Phillips joins us in this episode to discuss the cooperative model from the perspective of an attorney. She shares valuable information you need to have for transitioning to a cooperative model. Cooperatives are not for everyone, so you should know what you're getting into before setting one up.
Episode Highlights:

  • [03:57] Linda’s Journey as an Attorney
  • [05:35] How Co-ops are Different from Social Enterprises
  • [07:09] The Different Types of Cooperatives
  • [09:06] Why Startups Should Consider Cooperatives
  • [10:33] When to Consider a Transition
  • [13:38] Are Worker Cooperatives Your Only Option?
  • [19:57] How to Create a Successful Cooperative Model
  • [24:37] Cooperative Legal Formations
  • [28:09] The Right States with the Right Statutes
  • [32:09] Choosing the Right Financial Model
  • [37:28] Funding and Financing Options
  • [42:39] Choosing the Right Financing Option
  • [46:16] The Importance of Financial Models
  • [48:42] Linda’s Tips on Cooperatives

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