09 Apr Consortium Agreement And Meaning
For example, the Five College Consortium of Massachusetts includes the University of Massachusetts Amherst, Mount Holyoke College, Hampshire College, Smith College and Amherst College. Students attending one of these schools can attend classes at any other partner school at no additional cost. These educational consortia include partnerships between institutions that are close. Other consortia include The Quaker Consortium, The Claremont Colleges and Big Ten Academic Alliance. A consortium is a group of two or more individuals, companies or governments working together to achieve a common goal. Companies participating in a consortium pool resources, but they are only responsible for obligations defined in the consortium agreement. Any company under the consortium therefore remains independent of its normal activities and has no say in the activities of another member that are not related to the consortium. There are also for-profit businesses, but they are less common. One of the best-known profit consortia is the aircraft manufacturer Airbus Industrie GIE. European aerospace manufacturers are cooperating within the consortium to produce and sell commercial aircraft. The tornado was developed and built by Panavia Aircraft GmbH, a trinational consortium consisting of British Aerospace (formerly British Aircraft Corporation), MBB of West Germany and Aeritalia of Italy. [Citation required] The consortium is a Latin term meaning “partnership,” “association” or “company” and is derived from consorteurs (“with property”), even from con- (“together”) and fate. Another example is the World Wide Web Consortium (W3C), a consortium that standardizes web technologies such as HTML, XML and CSS.
For example, GENIVI Alliance is a non-profit consortium between various car manufacturers to facilitate the implementation of an information system in vehicles. The Big Ten Academic Alliance in the Midwest and Middle Atlantic united States, the Claremont Colleges consortium in Southern California, the Five College Consortium in Massachusetts and the Consércio Nacional Honda are among the oldest and most successful university consortia in the world. [Citation required] The Big Ten Academic Alliance, formerly known as the Committee on Institutional Cooperation, brings together members of the Big Ten Sports Conference. Participants in the five colleges, Inc. are: Amherst College, Hampshire College, Mount Holyoke College, Smith College and University of Massachusetts Amherst. Ohio`s five colleges are another success story: Oberlin College, Ohio Wesleyan University, Kenyon College, College of Wooster and Denison University. The Claremont consortium mentioned above (known as Claremont Colleges) consists of Pomona College, Claremont Graduate University, Scripps College, Claremont McKenna College, Harvey Mudd College, Pitzer College and Keck Graduate Institute. These consortia have pooled the resources of their member colleges and universities to share human and material wealth and link academic and administrative resources. Each participant retains its own legal status and the consortium`s control over each participant is generally limited to activities related to the joint venture, including profit sharing.
A consortium is formed by contract that confers the rights and obligations of each member. A joint venture (often abbreviated as a joint venture) is an entity that is formed between two or more parties to jointly carry out an economic activity. The parties agree to create a new entity by providing both equity and participation in the company`s revenues, expenses and control. While consortia tend to share resources, they act independently when it comes to day-to-day business. In the case of a joint venture, two or more parties generally share ownership of a business, as well as risks, profits, losses and governance.