A Consortium Differs from a Joint Venture in That a Consortium

question 32

Multiple Choice

A consortium differs from a joint venture in that a consortium

• A) usually operates in a country in which the participants are already active.
• B) typically involves a large number of participants.
• C) restricts the right to hold an equity position by its major partners.
• D) does not involve the creation of a separate legal entity.
• E) is formed mainly for executing short-term projects.

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Definitions:

Unilateral Change

Actions taken by one party, especially in a contractual relationship, without the agreement or consent of the other party.

Bad Faith Bargaining

Negotiating with deceitful intent or a refusal to engage in meaningful negotiation, violating the principles of fair bargaining.

Terms of Employment

Conditions and specifications under which work is to be performed as agreed between an employer and employee, including salary, work hours, and job responsibilities.

Concession Bargaining

A negotiation process where union members agree to give up previous benefits in exchange for something else, often to prevent job losses or company closures.