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Consortium is a word that comes from the Latin consortium meaning association or society, from the word consors meaning owner of means or comrade.

Usually this word refers to a temporary business organization created by businessmen or companies in order to carry out a certain task. For example if a big loan is to be given, a consortium of banks may be formed to give the loan. This is more commonly known as a syndicated loan. A more permanent joint activity is usually called an institute.

Famous Consortiums