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An association of individuals formed for the purpose of conducting a particular business; a Joint Venture.

A syndicate is a general term describing any group that is formed to conduct some type of business. For example, a syndicate may be formed by a group of investment bankers who underwrite and distribute new issues of Securities or blocks of outstanding issues. Syndicates can be organized as corporations or partnerships.Newspaper or press syndicates came into existence after the Civil War. A press syndicate sells the exclusive rights to entertainment features, such as gossip and advice columns, comic strips, and serialized books, to a subscribing newspaper in each territory. These "syndicated" features, which appear simultaneously around the United States, can generate large sums for the creators of the features and for the syndicate that sells them. Similarly, when television programs are syndicated, one station in each television market is allowed to broadcast a popular game show or rebroadcast a popular network series. A syndicated show may be televised at different times depending on the schedule of the local station. In contrast, on network television, a program is televised nationally at one scheduled time.

The term syndicate is also associated with Organized Crime. In the 1930s, the term crime syndicate was often used to describe a loose association of racketeers in control of organized crime throughout the United States. For example, the infamous "Murder, Inc." of the 1930s, which was part of a national crime syndicate, was founded to threaten, assault, or murder designated victims for a price. A member of the crime syndicate anywhere in the United States could contract with Murder, Inc., to hire a "hit man" to kill a person.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.


n. a joint venture among individuals and/or corporations to accomplish a particular business objective, such as the purchase, development, and sale of a tract of real property, followed by division of the profits. A joint venture, and thus a syndicate, is much like a partnership, but has a specific objective or purpose after the completion of which it will dissolve. (See: joint venture)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
Agents or brokers who have previously filed a purchasing group policy with SLTX are not expected to retroactively apply the new button but should select it on any purchasing group policies moving forward.
Learning Point: Despite their reputation for superior coverage, proposals from risk purchasing groups must be carefully reviewed just like any other proposal.
You will also find that purchasing groups such as the NEG offer a consolidated invoice system, which means that all your purchases made via the group will appear on one statement, regardless of the number of suppliers, so you only pay one payment, reducing your administration considerably, leaving you more time to spend with your patients, generating more income.
Respondents Carl and Stephen Thomas solicited members of the Purchasing Group to buy First Western shares on various occasions, including at the conclusion of Carl Thomas's Bible study meetings.
This program functions as a risk purchasing group that is Lloyd's based, targeting "the very little guy--under $1 million ha revenues," Clark said.
Swedish surgical intervention and wound care products supplier Molnlycke Health Care AB said on Monday (27 October) that it had received a three-year contract for advanced wound care products from Health Trust Purchasing Group in the US.
Non-traditional insurance solutions include claims-made liability insurance policies, risk purchasing group programs, captive and rent-a-captive insurance arrangements, and excess and surplus lines insurance placements.
Anastasio is VP, Coalition Purchasing Group, at Aon Consulting Inc.
For example, say a purchasing group at a supplier company wants to select suppliers for a new program.
HealthTrust Purchasing Group has awarded Roche Diagnostics a multi-source contract to supply blood gas and electrolyte products to HPG member facilities and affiliates.
The other principal group approach to self-insurance is the risk purchasing group. Although purchasing groups are not technically self-insurance, they seek to accomplish the same goals as self-insurance programs by increasing the availability of insurance and reducing costs to a reasonable level.

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