SYNDICATE, a term originally meaning a body of syndics. In this sense it is still sometimes used, as at the university of Cambridge, for the body of members or committee responsible for the management of the University Press. In commerce, a syndicate is a body of persons who combine to carry through some financial transaction, or who undertake a common adventure. Syndicates are very often formed to acquire or take over some undertaking, held it for a short time, and then resell it to a company. The profits are then distributed and the syndicate dissolves. Sometimes syndicates are formed under agreements which constitute them mere partnerships, the members being therefore individually responsible, but they are now more generally incorporated under the Companies Acts.
The more usual cases in which syndicates are commonly formed will be found in F. B. Palmer's Company Precedents, loth ed., vol. i. pp. 129 seq.
Note - this article incorporates content from Encyclopaedia Britannica, Eleventh Edition, (1910-1911)