Here are some key features of cooperative societies: 

Voluntary Membership: Members join a cooperative society voluntarily and have the freedom to leave the cooperative if they wish. Democratic Control: Cooperative societies operate on the principle of democratic governance. Each member typically has one vote, regardless of the number of shares they hold or their level of investment.

Limited Return on Capital: The financial benefits derived from the cooperative's activities are primarily returned to the members in proportion to their transactions with the cooperative, rather than based on the capital invested.

Service Orientation: Cooperatives are often established to provide services or products that meet the specific needs of their members. This can include agricultural marketing cooperatives, consumer cooperatives, housing cooperatives, and more.

Mutual Assistance: Members of a cooperative society work together to achieve common goals, and there is an emphasis on mutual assistance and support.

Open Membership: Cooperatives are usually open to new members who meet certain criteria, and the membership is inclusive, irrespective of caste, creed, religion, or social status.

Autonomy and Independence: While cooperatives may collaborate with other organizations or government bodies, they maintain autonomy and operate independently.

Education and Training: Cooperatives often provide education and training to their members to help them better understand and actively participate in the cooperative's affairs. 

Examples of cooperative societies include agricultural cooperatives where farmers collaborate for better bargaining power in the market, credit unions providing financial services to members, and consumer cooperatives that collectively purchase goods for members.

Cooperatives are guided by cooperative principles, which were established by the International Cooperative Alliance (ICA).

These principles include voluntary and open membership, democratic member control, member economic participation, autonomy and independence, education, training, and cooperation among cooperatives.