In our example above, British Aerospace, Aerospace, Construcciones Aeronáuticas SA and DASA formed a consortium and at the same time a legal entity for the consortium of which they were each shareholders. Changes and modifications to the text of this Consortium Agreement that are not expressly listed in Article 6.3.1.2 require a separate agreement between all parties. A consortium (plural: consortia) is an association of two or more individuals, companies, organizations or governments (or any combination of these entities) for the purpose of participating in a common activity or pooling their resources to achieve a common goal. Consortia are often found in the non-profit sector, for example among educational institutions. Educational consortia often pool resources such as libraries, research activities and professors and share them with group members to help their students. Several groups of North American colleges and universities work as consortia. However, they have consortia of companies in the airline sector, between media companies, insurance companies and financial institutions, to finance large mergers and acquisitions. Such consortia allow various for-profit companies to combine their technical know-how and pool resources to develop something they would not have developed otherwise. Not all schools need an agreement to participate in the semester at sea. But if your school or we ask you to complete one, don`t worry. That is a good thing.

Unlike a joint venture, consortia act independently in day-to-day business. In Germany, the prevailing view is that the consortium is a kind of internal civil law partnership (§ 705-740 BGB). In external relations, the members of the consortium may decide on the joint and several liability regulated in § 421 BGB, while internally there is sometimes an exemption from this liability. Joint ventures often include credit consortia, securities issuance consortia, which consist mainly of shares (issuing consortia), construction consortia, also known as investment consortia, and profit pools. Sometimes special purpose vehicles established for the joint use of construction facilities (planning companies) are listed in a category with the consortium and pool. Cooperation agreements concluded under German law are not of a uniform legal nature. There is a wide range of legal forms of cooperation that could be conservatively described as consortium agreements. These include a civil law partnership in its internal and occasional variants (occasional company), as well as a partnership of entrepreneurs (ARGE) and a structure simply called a “consortium”. [7] There are also for-profit consortia owned by companies, but they are less common. One of the best-known for-profit consortia is the airline manufacturer Airbus Industrie GIE. European aircraft manufacturers are working together in the consortium to produce and sell commercial aircraft.

A consortium agreement is an agreement between two colleges or universities to recognize your registration at each location for financial support purposes. It also certifies that only one of the two organizations can manage your Title IV and your financial assistance from the State. Alyeska Pipeline Service Company, the company that built the Trans-Alaska pipeline system in the 1970s, was originally a consortium of BP, ARCO, ConocoPhillips, Exxon, Mobil, Unocal and Koch Alaska Pipeline Company. [Citation needed] A consortium can be structured as a separate legal entity. Consortium agreements generally stipulate that one of the colleges or universities where a student enrolled at the same time is responsible for managing the state`s financial aid. In France, the consortium, which is considered a partial form of joint venture, has significant theoretical and practical importance. The French legal system does not contain a definition and does not explicitly use the term joint venture or consortium (temporary groupings of companies). The consortium agreement in France is a purely contractual cooperation agreement that does not include the constitution of a third party. The Consortium has no personality or legal capacity. The contract is concluded between two or more natural or legal persons who undertake to carry out certain works in order to carry out a joint project that the members of the consortium have not been able to carry out themselves. The consortium agreement is not expressly regulated by the French legislature, but is admissible under the principle of contractual freedom as interpreted in Articles 6 and 1134 of the French Civil Code. [5] In the Polish legal order, the legal nature of the consortium agreement is controversial.

According to the dominant approach, a consortium is a form of cooperation, distinct from a civil law partnership, carried out between economically independent undertakings already active on the market with a view to carrying out a specific undertaking which constitutes a segment of the regular activities of those undertakings, is based on an unnamed contract and is characterised by a temporary nature. Minimize institutionalization and lack of separate ownership, the need to clarify how the parties participate in the joint venture, and the intention not to create a “community” with partial interests (the partnership itself). According to this concept, despite the very broad formula of a civil partnership provided for entities that undertake to cooperate in a certain way in order to achieve a common economic objective (which is a common element for both types of contracts), the partnership agreement does not exhaust all forms of cooperation and the automatic qualification of consortium agreements into partnerships is not allowed. [8] In the United States, video streaming service Hulu is a consortium of major media companies, including Comcast, Time Warner, the Walt Disney Company and 21st Century Fox. The Institute for Food Safety and Health is a consortium consisting of the Illinois Institute of Technology, the Food and Drug Administration`s Center for Food Safety and Applied Nutrition, and members of the food industry. Some of the work carried out at the Institute includes “the evaluation and validation of new and novel food safety and preservation technologies, processing and packaging systems, microbiological and chemical methods, health-promoting food components and risk management strategies”. [4] The Big Ten Academic Alliance in the Midwest and Mid-Atlantic, the Claremont Colleges Consortium in Southern California, the Five College Consortium in Massachusetts, and the Consórcio Nacional Honda are among the oldest and most successful university consortia in the world. [Citation needed] The Big Ten Academic Alliance, formerly known as the Committee on Institutional Cooperation, includes members of the Big Ten Athletic Conference. Les participants à Five Colleges, Inc.

are: Amherst College, Hampshire College, Mount Holyoke College, Smith College and the University of Massachusetts Amherst. Another example of a successful consortium is Ohio`s five colleges: Oberlin College, Ohio Wesleyan University, Kenyon College, College of Wooster, and Denison University. The aforementioned Claremont Consortium (known as Claremont Colleges) includes 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 universities and universities to share human and material resources and link academic and administrative resources. An example of a for-profit consortium is a group of banks that work together to make a loan – also known as a syndicate. This type of loan is commonly referred to as syndicated credit. .