definition
strict definition
consortium
A named partnership of two or more firms working together on a particular building or project.
A consortium is a partnership in which two or more firms work together on one building or project under a specific name. If there is no name for the cooperative partnership, each company is connected to the structure separately.
The partnership brings together distinct firms for the particular project. Its shared name identifies the cooperative undertaking without implying that the firms have merged.
A group of companies is a corporate union with a different basis from project-specific cooperation. Several separately engaged companies on one project do not necessarily form a named consortium.
Related definitions
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branch
A national, regional, or local office subordinate to a company's home office, excluding an independent subsidiary. -
brand
A registered trademark used by a company to establish product identity among consumers. -
division
A sub-organization within a company acting as an individual firm in relation to a structure or complex. -
fund
A collective investment scheme which spreads ownership among several investors. -
group of companies
A corporate union or association of multiple companies which retain their separate identities. -
headquarters
The main or only office of a company, ranging from a single-office firm to a worldwide headquarters. -
individual
A single person acting in the role of a company with respect to a structure or complex.