vinnufélögum
Vinnufélög (worker cooperatives) are enterprises owned and governed by the employees who work there. Members participate in decision-making and share in the profits, with the aim of combining economic viability with social and employment goals. They operate under cooperative principles such as voluntary and open membership, democratic control (one member, one vote), member economic participation, autonomy and independence, education and training, cooperation among cooperatives, and concern for the community.
Governance in a vinnufélag is typically democratic, with each worker-member having equal voting rights regardless of
Capital and profits are organized to reflect member participation. Capital is often raised through member contributions,
Legal and economic context varies by country, but worker cooperatives are widely recognized within the international
Advantages include strong alignment between workers’ interests and business performance, adaptability in changing conditions, and a