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A syndicate is a self-organizing group of individuals, companies, corporations or entities formed to transact some specific business, or to promote a common interest. In most cases formed groups aim to scale up their profits. Although there are many legal syndicates formed around the world, people tend to link the term syndicate to various criminal activities. In the case of criminal activity, the syndicate is there to promote, and engage in, organized crime. The term is also associated with anarchist theory, specifically anarcho-syndicalism, in which it forms an alternative to both the nation state and capitalist corporations.
The word syndicate comes from the French word syndicat which means trade union (syndic meaning administrator), from the Latin word syndicus which in turn comes from the Greek word σύνδικος (syndikos) which means caretaker of an issue, compare to ombudsman or representative.
Crime syndicates are criminal organizations which run common illegal businesses on a larger scale. This type of business was usually held by the Italian American Mafia crime families. Although there were members of those organizations, the Gambino crime family was definitely one of the biggest organizations, dominating the territory within New York City.
A short list of the most popular Crime Syndicates:
- Gambino crime family
- Genovese crime family
- Lucchese crime family
- Bonanno crime family
- Colombo crime family
- Chicago Outfit
In media, syndicates are organizations by name and credit.
A formed group of several business entities, like companies or corporations, which share common interest on the market, but usually are not direct competitors. In most cases larger companies or corporations form syndicates to strengthen their position on the market. Modern Internet companies and corporations, focusing on various Internet ventures, tend to form syndicates within their own group, with direct competitors involved. In such cases they share a certain type of market, like brand management or SEO, and usually form a Conglomerate Syndicate.
In finance, a group of banks lending, for a specific purpose and to one single borrower, a usually large amount of money is referred to as a bank syndicate or often only as a syndicate.
Anarchists, syndicalists and other libertarian socialists use the word "syndicate" to refer to an enterprise democratically managed by its workers. Such an enterprise is governed by a face-to-face meeting of everyone who works there, in which each worker has one vote. Either there are no managers, or the managers are democratically elected and recallable. In either case, the most important decisions are made collectively by the whole workforce. This is known as workers' self-management.
People sometimes play the lottery in a syndicate to increase their chances of winning.
- "What is a syndicate?". http://www.answers.com/: Answers.com. "Syndicate comes from the French word syndicat which means trade union (syndic meaning administrator), from the Latin word syndicus which in turn comes from the Greek word (syndikos) which means caretaker of an issue, compare to ombudsman or representative."