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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 ?
A "Yes" or "No" button has been added, so that SLTX may record purchasing group policies.
A risk purchasing group differs from a risk retention group, which is also authorized by the Risk Retention Act.
There are certain similarities between risk retention groups and risk purchasing groups. For both risk retention groups and purchasing groups, the Liability Risk Retention Act requires that members be homogenous, i.e., engaged in similar businesses or activities that expose them to similar liabilities.
The corporate purchasing group successfully negotiated a corporate contract which resulted in a unit raw material cost reduction of 17 percent.
For example, the owner of a business not considered "high risk" might end up paying the same premium as those that are high risk because all are in the same purchasing group.
Grillo: Nursing home purchasing groups probably wouldn't have much impact on pricing.
A similar amendment would affect purchasing groups by precluding control by insurers, agents or brokers whose interests the Department of Labor perceives may not parallel those of the insureds.
Another benefit of association membership is that it gives you the opportunity to fight for what's right, which is quality residential care, as well as higher reimbursement." He adds that taking advantage of purchasing groups for things such as insurance, food and supplies will help the bottom line.
Last, the center would establish insurance programs and risk retention or purchasing groups to reduce costs and increase insurance availability.
Bern also says that forming purchasing groups and other types of alliances can prove beneficial for nursing homes seeking lower insurance rates, and he suggests that local firms provide the insurance, for he believes they are more likely to understand the market and provide better service.

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