a hypothesis that has been formed by speculating or conjecturing (usually with little hard evidence); "speculations about the outcome of the election"; "he dismissed it as mere conjecture"
an investment that is very risky but could yield great profits; "he knew the stock was a speculation when he bought it"
a jointly owned commercial enterprise (usually organized by farmers or consumers) that produces and distributes goods and services and is run for the benefit of its owners
an association formed and operated for the benefit of those using it
done with or working with others for a common purpose or benefit; "a cooperative effort"