Excerpt: If you’re converting into a coop, you’ll need to valuate the company, then sell it to the workers. This can be a complicated process depending on a ton of factors (especially if the current owners will continue on as employees of the new cooperative). So you will need to urge everyone, including your lawyer, accountant, and the workers, to make a fair conversion plan for everyone. The Sustainable Economies Law Center’s “Legal Guide to Cooperative Conversions” is a great place to start.
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(Originally published May 10th, 2022)