A consortium is a collective arrangement wherein two or more businesses unite temporarily to undertake a large and complex project, leveraging pooled skills and resources to achieve a common goal.
A joint venture is a commercial undertaking jointly entered by two or more entities, limited by time or activity, where each participant accounts for their own share of assets, liabilities, and cash flows.
Musharaka is a joint venture or partnership structure in Islamic finance where profits and losses are shared among partners according to predetermined ratios.
A partner is a member of a partnership, which could be a syndicate, association, pool, joint venture, or another unincorporated organization. Partners generally report their pro rata share of partnership income and deductions on their personal tax returns.
Proportional consolidation is a method used in group accounts for subsidiaries that are not fully owned, including a proportionate share of each category of a joint venture in revenues, expenditures, assets, and liabilities line by line. This method contrasts with the equity method and has been a topic of much debate.
A syndicate is a collaborative group of individuals or companies formed to undertake a project that would be difficult to accomplish individually. It can be classified as a partnership or corporation for tax purposes.
A venturer is a party in a joint venture, an arrangement where two or more entities have joint control over an undertaking, sharing profits, losses, and control equally or as defined by a contractual agreement.
