Definition of: cooperative

(kō·op′rə·tiv, -ə·rā′tiv) noun
1. An organization carrying on any of various economic activities for the mutual benefit of its members. A consumers' cooperative, buying and selling at market prices, distributes the savings over cost of operation to its members in proportion to their patronage. A producers' cooperative conducts marketing operations for the pooled output of primary producers, usually farmers.
2. An apartment house owned by an organization of tenants, with each tenant's share determined by the value of his own apartment; also, an apartment in such building.
—adjective
1. Pertaining to or organized for economic cooperation: a cooperative store.
2. Working together for a common purpose.
—co·op′er·a·tive·ly adverb