consortium
kun-SOR-tee-um
/kənˈsɔːrtiəm/
An association of several business companies, financial institutions, or investors for a large project.
Specifically used for large-scale financial or industrial cooperation where risks and resources are shared.
The story behind the word. From the Latin 'con-' (together) and 'sors' (lot or fate). It beautifully describes a group of partners who have chosen to share the same destiny in a project.
Word relationships
- syndicate: Syndicate often implies a group formed for a specific, sometimes less transparent, financial purpose.
- partnership: Partnership is a more general term for any business cooperation.
- competitor: A competitor is a rival entity working against the interests of the consortium.
Commonly confused with
- corporation: A corporation is a single legal entity; a consortium is a group of separate entities working together.
Word family
- consortia (noun): The Latin plural form of consortium.
- consort (verb): To habitually associate with someone.
Collocations
- international consortium
- banking consortium
- form a consortium
- research consortium
Example sentences
- "A consortium of international banks provided the funding for the massive new bridge project." Infrastructure
- "The World Wide Web Consortium (W3C) develops standards for the web to ensure long-term growth." Technology
Memory hook
A consortium is a 'concert' of partners sharing their lot and resources. Sharing the fate.
When not to use
Not typically used for political or military alliances.
Fun facts
- The word 'sort' also comes from 'sors', as in your 'lot' or 'type' in life.
Explore more words
concerted, multilateral, enterprise, Conglomerate, consensus, Merger
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