Encyclopedia

Consortium


A consortium is a temporary association of companies for implementing specific economic projects; a multi-party joint venture; an agreement between banks or industrial companies for conducting financial operations together. The specificity of consortia lies in the client entering into contracts with each participating firm, which are legally independent partners. Consortia are distinguished as those with the formation of a legal entity and contractual ones

Source: "Recommendations on Issues of Patent and Utility Model Application Examination" (approved by Rospatent Order No. 43 dated 31 March 2004) (as amended on 30 November 2009)

Laws with commentary

Codes and federal laws