A worker cooperative is a type of business in which employees own and manage the business together. Some synonyms for a worker cooperative include employee-owned business, collective enterprise, participatory enterprise, and worker-owned cooperative. Another synonym is a self-managed enterprise, which is a business run by its workers without any centralized management or hierarchy. A co-op is also a common term for a worker cooperative, as it emphasizes the collaborative and cooperative nature of the business. Other related terms include social enterprise, community-owned business, and cooperatively owned enterprise. Regardless of the term used, a worker cooperative is a unique model in which employees share ownership and decision-making power in the business.