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consortium is basically a kind of togetherness in some specific agenda of differently acting organization beyond the consortium mission. while partnership emanates from more or less like organizations in overall organizational mission and working modality. in the consortium there may have leading entity while in partnership working mutually with equal footing.consortium is a need for specialization/commitment to specific skill while partnership is for creating ally and for scale up purpose. e.g
a Toyota company can work with consortium with different car body part specialized manufacturers while Toyota company can manufacture his body part through x company workshop of working the same quality and technology as technology and product partner
Consortium
A consortium is an association of two or more individuals, companies, organizations or governments (or any combination of these entities) with the objective of participating in a common activity or pooling their resources for achieving a common goal.
Consortium is a Latin word, meaning "partnership", "association" or "society" and derives from consors 'partner', itself from con- 'together' and sors 'fate', meaning owner of means or comrade.
An example of a for-profit consortium is a group of banks that collaborate to make a loan—also known as a syndicate. This type of loan is more commonly known as a syndicated loan. In England it is common for a consortium to buy out financially struggling football clubs in order to keep them out of liquidation.
Alyeska Pipeline Service Company, the company that built the Trans-Alaska Pipeline System in the1970s, initially was a consortium of BP, ARCO, ConocoPhillips, Exxon, Mobil, Unocal, and Koch Alaska Pipeline Company.
Partnership
A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests.
Since humans are social beings, partnerships between individuals, businesses, interest-based organizations, schools, governments, and varied combinations thereof, have always been and remain commonplace. In the most frequently associated instance of the term, a partnership is formed between two or more businesses in which partners (owners) co-labor to achieve and share profits and losses (see business partners). Partnerships exist within, and across, sectors. Non-profit, religious, and political organizations may partner together to increase the likelihood of each achieving their mission and to amplify their reach. In what is usually called an alliance, governments may partner to achieve their national interests, sometimes against allied governments holding contrary interests, as occurred during World War II and the Cold War. In education, accrediting agencies increasingly evaluate schools by the level and quality of their partnerships with other schools and a variety of other entities across societal sectors. Some partnerships occur at personal levels, such as when two or more individuals agree to domicile together, while other partnerships are not only personal, but private, known only to the involved parties.
Partnerships present the involved parties with special challenges that must be navigated unto agreement. Overarching goals, levels of give-and-take, areas of responsibility, lines of authority and succession, how success is evaluated and distributed, and often a variety of other factors must all be negotiated. Once agreement is reached, the partnership is typically enforceable by civil law, especially if well documented. Partners who wish to make their agreement affirmatively explicit and enforceable typically draw up Articles of Partnership. It is common for information about formally partnered entities to be made public, such as through a press release, a newspaper ad, or public records laws.
While partnerships stand to amplify mutual interests and success, some are considered ethically problematic. When a politician, for example, partners with a corporation to advance the latter's interest in exchange for some benefit, a conflict of interest results; consequentially, the public good may suffer. While technically legal in some jurisdictions, such practice is broadly viewed negatively or as corruption.
Governmentally recognized partnerships may enjoy special benefits in tax policies. Among developed countries, for example, business partnerships are often favored over corporations in taxation policy, since dividend taxes only occur on profits before they are distributed to the partners. However, depending on the partnership structure and the jurisdiction in which it operates, owners of a partnership may be exposed to greater personal liability than they would as shareholders of a corporation. In such countries, partnerships are often regulated via anti-trust laws, so as to inhibit monopolistic practices and foster free market competition. Enforcement of the laws, however, varies considerably. Domestic partnerships recognized by governments typically enjoy tax benefits, as well.
A partnership firm is not a separate legal entity apart from the partners constituting it. It has limited identity for the purpose of tax law as per section4 of the Partnership Act of1932.
Even both are forms of collaborative working between two or more organizations ,
consortium/consortia is a more structured form of partnership with a well formal defined structured governance arragement.
The three main formats of the consortium are:
* A lead partner consortium
* Supply chain consortium
* New legal body
The charity commission describes ‘collaborative working’ as ‘joint working by two or more organisations (community and voluntary) in order to better fulfil their purposes, while remaining as separate organisations’. The different forms of collaborative working all look to achieve mutual advantage in a range of ways - for example, saving funds through sharing costs, delivering improved and integrated services, increasing the power and visibility of separate organisations, achieving a shared aim or sharing knowledge and contacts. Different types of collaboration can last for a fixed length of time or become a permanent arrangement.
The term partnership can be used in two very different ways - while many use the word informally to describe joint working , it has a specific legal meaning with profound legal implications. A legal partnership is created when two or more people work together with a view to making a profit. The problem with a legal partnership is that partners are jointly and separately responsible for all the partnership's debts and liabilities. This means that a creditor can sue the more affluent partner, recover its claim, and leave the partner to try and recover the appropriate share of the debt from the other partner(s).
An informal partnership arrangement between organisations could be called a loose consortium or network. All the agencies agree to work together to common aims. There may or may not be a written partnership agreement and/or a steering group. The network would not have a separate legal status outside of its members. The organisations would have to tender as independent units to commissioning bodies .
Consortium: Agreement more than two parties.
Partnership: with two parties at least.
CONSORTIUM IS DIFFERENT GROUP OF COMPANIES WORKING ON ONE COMMON PROJECT ,,,,,,, PARTNERSHIP IS THE GROUP OUR PEOPLE WORKING TOGETHER IN ONE COMPANY .......... GOOD DAY LABIB
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