1911 Encyclopædia Britannica/Széchenyi, Istvan, Count
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 person 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, hold 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.