What is a consortium?

A consortium is a collective organization created to facilitate collaboration among multiple businesses and other entities. The members share resources, work together on research and development, and form agreements that benefit all parties involved. It is important to note that the goals of a consortium are determined by its members, so it can take many different forms depending on its purpose. For instance, leading technology companies may join forces to create new standards for software or hardware products; another consortium might enable organizations from the travel industry to jointly manage expenses related to conferences or networking events. By joining together under a single umbrella, partners in a consortium can often achieve more than they would working alone.