Our Idea Factory... Building company ownership like
Habitat for Humanity is building home ownership
Our Idea Factory… a small investment producing big results
OIF’s start-up and ongoing revenue sources are a $25 membership registration fee plus opening a $50 (a minimum of 5 Venture Capital units @ $10) voting right investment account; applicable to all cooperative workers & members. Common good and mutual aid is our strategy; each co-operative is formulated to merge for complimentary results, easily divided, combined, duplicated or franchised.
Capitalization of Our Idea Factory is formed from membership fees and the purchase of stock units; it grows and expands by OIF retaining a small portion of the patronage funds allocated to members at the end of the year. In accordance with our cooperative principles, each worker and member, regardless of number of units owned, has only one vote... and they can use that vote:
· To adopt and amend articles of incorporation and bylaws.
· To elect and, if necessary, remove members of the board of directors.
· To decide on expansion or consolidation with other worker/employee owned operations.
· To assure officers, directors, and agents comply with laws applicable to the cooperative’s articles, bylaws, and membership contracts.