[MrMan]

I disagree - a business that is owned by its customers is probably best described as a mutual company. Examples are the old NYSE, and most other stock markets before modernization, most insurance companies before the wave of demutualization in the 1990's, Savings and Loan companies. The list goes on.

I think it's potentially a good model for some businesses, for example those that do not require a large amount of R&D spending, or where this is not a race to the bottom as happened with stock exchanges.