Simple Definition of consortium
: a group of people, companies, etc., that agree to work together
Full Definition of consortium
plural con·sor·tiaplay\-ˈsȯr-sh(ē-)ə, -ˈsȯr-tē-ə\ also con·sortiums
1: an agreement, combination, or group (as of companies) formed to undertake an enterprise beyond the resources of any one member
an organization of several businesses or banks joiningtogether as a group for a shared purpose:
noun, plural consortia
[kuh n-sawr-shee-uh, -tee-uh] (Show IPA)
a combination of financial institutions, capitalists, etc., for carrying intoeffect some financial operation requiring large resources of capital.
any association, partnership, or union.