Answer
Co-operatives are businesses or organizations owned by their members, who share the profits and losses. Owen played a crucial role in the development of the cooperative movement, establishing the Rochdale Society of Equitable Pioneers in 1844, which became a model for co-ops worldwide. These entities are based on the principles of self-help, self-responsibility, democracy, equality, and solidarity, and aim to provide economic, social, and cultural benefits to their members.