Ocean Spray

Definition

Ocean Spray is a cooperative of cranberry and grapefruit farmers operating as a specialized form of business organization. It pools resources to process and market its members' produce, sharing profits among them.

Related terms

Cooperative:

A business owned and operated for the benefit of its members, who share profits or benefits.

Profit Sharing:

A system in which employees or members receive a portion of the company's profits, based on its earnings.

Marketing Consortium: A group of businesses that pool resources for collective marketing efforts to enhance their market presence and efficiency