Christy Funsch23



 

What Are Consortium Agreement

A consortium is a group of two or more individuals, companies or governments working together to achieve a common goal. Companies participating in a consortium pool resources, but they are only responsible for obligations defined in the consortium agreement. Any company under the consortium therefore remains independent of its normal activities and has no say in the activities of another member that are not related to the consortium. In the Polish legal system, the legal nature of the consortium agreement is controversial. According to the dominant approach, a consortium is a different form of cooperation than a civil partnership between economically independent companies that are already operating in the market for the implementation of a specific enterprise that is a segment of the regular activities of these enterprises, based on an unspecified contract and characterized by a temporary nature, minimization of institutionalization and the absence of separate ownership. , the need to clarify how the parties participate in the joint venture and the intention not to create a “community” with part interests (the partnership itself). According to this approach, the partnership agreement, despite the very broad formula of a civil partnership for companies that commit to cooperating in a certain way to achieve a common economic objective (which is a common element for both types of contracts), is not to exploit all forms of cooperation and automatic qualification of consortium contracts, because partnerships are not allowed. [8] I have met with a large number of bidders, particularly in large-scale government and cpSE projects, who have been talking between the two for a long time without reaching conclusions. My opinion on whether I should face a chance as a consortium or as a joint venture would be based on pre-qualification criteria and the proposed financial model. In short, if you have your pre-qualification and project financing criteria, you are engaged in a consortium to spread the risk and get cheap value for money. A consortium is easy to form and easy to execute.

Countries that develop standards have a competitive advantage over countries that do not, and countries and industries that subscribe to a global standard are often leaders in international trade. However, the creation of standards can lead to potential abuses and concerns about cartels and abuse of dominance. In the United States, the legal basis for cooperation and consortia can be found in the antitrust guidelines for the Competitors Among collaboration of the Department of Justice and the Federal Trade Commission. Each participant retains its own legal status and the consortium`s control over each participant is generally limited to activities related to the joint venture, including profit sharing.