What is a Consortium? One Consortium is alliance of companies, individuals or other entities who came together to achieve a goal specific. The goal benefits all parties.
Examples of consortium include:
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In other words, it is a business club that offers benefits to its members. A consortium is similar to a syndicate. However, it doesn't last as long as a union.
You consortiums are short-term agreements in which members pool their human and financial resources. Together they carry out a great project that everyone will benefit from. Even entities from different countries can come together and form consortia.
Members can be individuals, companies or organizations. Members can also be governments.
“Consortium” is Latin for “partnership, association” or “society”. The word derives from the Latin word “Consors”, which means “partner”.
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