Word of the Day

Saturday, May 18, 2013

consortium

\kuhn-SAWR-shee-uhm, -tee-\ , noun;
1.
any association, partnership, or union.
2.
a combination of financial institutions, capitalists, etc., for carrying into effect some financial operation requiring large resources of capital.
3.
Law. the legal right of husband and wife to companionship and conjugal intercourse with each other: In a wrongful death action the surviving spouse commonly seeks damages for loss of consortium.
Quotes:
A consortium of companies that make radio-based identification tags, scanners and related software said yesterday that they planned to pool their patents in a venture that would provide one-stop licensing and royalty management.
-- Barnaby J. Feder, "Consortium to Pool Radio-Tag Patents," New York Times, August 10, 2005
This new foundation would assist the consortium to make policy, and advise the U.N. on Mars-related matters.
-- Kim Stanley Robinson, Red Mars and Green Mars, 1993
Origin:
Consortium entered English in the 1820s. It comes from the Latin word for partnership, consort.
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