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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 ?
The separate underwriting group is dispersed across the nation, with three locations in California; one in Minneapolis; one in Chicago; one in Charlotte, North Carolina; and one in Des Moines.
At Goldman Sachs, she was a senior member of the firm's debt underwriting group.
The offering is being made through an underwriting group led by Wells Fargo Securities, Morgan Stanley and KKR, who are acting as joint book-running managers for the offering.
(NYSE: AJG) has acquired UK-based Evolution Underwriting Group, the company said.
Therefore, in order for a marine underwriting group to achieve the growth and profit targets expected by senior management, it has to differentiate itself through products and services.
Recently, the company made its move into live underwriting with the planned acquisition of Atrium Underwriting Group and Atrium's reinsurance business, Arden Reinsurance Co., for $263 million.
David Murray Wells, chairman of the UK's largest agricultural and rural underwriting agency AIUA, based in Harrogate, has announced the company's acquisition by the Towergate Underwriting Group.
In other news, New Dimensions Underwriting Group, a Princeton, N.J.-based managing general underwriter established by Aon Corp., has assumed management of several programs previously under the Go Pro Underwriting Managers name: Waste Insurance Network, First Firefighters, Public Risk Underwriters, Rural Electric Utilities Underwriting Managers, and Huntington T.
To be offered by "certain selling stockholders," the proposal is being made through an underwriting group that includes Donaldson, Lufkin & Jennrette and Merrill Lynch & Co.
All of the shares were sold by the company through an underwriting group managed by Deutsche Banc Alex Brown, BancBoston Robertson Stephens, SG Cowen and E*Offering and are trading under the symbol HOTJ.
HFN has learned an underwriting group led by Goldman Sachs & Co.
An underwriting group (managed by Morgan Stanley & Co.