8. Law: Other types of Companies Flashcards
1
Q
What is a Community Interest Company (CIC)?
A
it’s a non charitable incorporated body
its purpose is to reinvest profits into social projects for the local community
instead of maximising profits for its shareholders
2
Q
What is a Co-Operative?
A
a community focussed business owned & run by a group of people
3
Q
What is an Industrial & Provident Society (IPS)?
A
it’s an incorporated body for a business or voluntary organisation
run as a co-operative
4
Q
Give 4 examples of a Industrial & Provident Society
A
- working mens clubs
- allotments societies
- housing associations
- football supporters club
