Although there is no general consensus around a universal definition of Social Economy in the theoretical field and many years have passed since this term was first used, some definitions can be found:

• For the professor of Economic Structure of the Universidad de San Pablo-CEU, D. Javier Morillas, “we can understand Social Economy as being any private economic activity, based on the association of people in democratic and participative entities, in which personal contributions and work are given precedence over capital gains.”

• For the Spanish Business Confederation of Social Economy (CEPES): “It is any economic activity based upon the association of people in entities that are organised democratically and participatively, in both the management and distribution of the excellent benefits.”

• Professor Barea Tejeiro defined the social economy as “the economy comprises companies that act in the market, producing goods and services, and whose share distribution and decision-making are not directly linked to the capital contributions of each member.”

To overcome the lack of a tight definition for the Social Economy, it may be said to allude to a set of activities that come under any of the following six legal forms:

• Cooperatives
• Employee-Owned Companies
• Mutual Societies
• Associations and Foundations
• Insertion Companies
• Special Employment Centres