An industry consortium refers to a cooperativearrangement, either short or long term, in which several firms (from the same or different industry sectors or countries) pool their finances and/or resources to undertake a large project that benefits all members of the group. A consortium lasts for a period that is usually shorter than that for a syndicate. There are varying purposes for a consortium including streamlining the supply chain, aggregating buying power, or engaging in a joint venture.

1. An exchange ran by several companies of an industry who are attempting to streamline the supply chain and aggregate buying power.

2. An association or a combination, as of businesses, Financial Institutions, or investors, for the purpose of engaging in a joint venture.

3. A cooperative arrangement among groups or institutions: a library consortium.

4. An association or society.

5. Short-term arrangement in which several firms (from the same or different industry sectors or countries) pool their financial and human resources to undertake a large project that benefits all members of the group. A consortium lasts for a period that is usually shorter than that for a syndicate.

6. Benefits the parties to an agreement or arrangement are entitled to receive from one another.