consortium

consortium definition - business

consortium

A group of organizations that participate in a joint venture. For example, several libraries may join to form a consortium in order to secure expensive electronic information services and offer patrons a greater variety of materials.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.