An association, combination or partnership of businesses, financial institutions or investors engaged in a joint venture.
Definition from Nolo’s Plain-English Law Dictionary
1) A group of separate individuals or companies that come together to undertake an enterprise or transaction that is beyond the means of any one member. For example, a group of local businesses might form a consortium to fund and construct a new office complex. 2) The duties and rights associated with marriage. Consortium includes all the tangible and intangible benefits that one spouse derives from the other, including material support, companionship, affection, guidance, and sexual relations. The term may arise in a lawsuit if a spouse brings a claim against a third party for "loss of consortium" after the other spouse is injured or killed.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:13 pm