Definitions (2)

1.Short-term arrangement in which several firms (from the same or different industry sectors or countries) pool their financial and human resources to undertake a large project that benefits all members of the group. A consortium lasts for a period that is usually shorter than that for a syndicate.
2.Benefits the parties to an agreement or arrangement are entitled to receive from one another.

Use consortium in a sentence

  • The consortium of teachers in Lake County has come together and decided that they will use one of their comp days to have the Wednesday before Thanksgiving added onto the break.

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  • Representatives from each of the local firms joined forces in a consortium to help ensure that the charity fundraiser was a success.

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  • The consortium of European countries met in Greece to try to brainstorm ideas to help salvage the Greek economy which was on the verge of bankruptcy.

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