What are the major differences between an industry-sponsored marketplace and a private marketplace?
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Answer:
Industry-sponsored marketplaces (few-to-many or many-to-many models), such as Covisint, are owned, controlled, supported and / or operated on behalf of multiple players in a specific industry. Covisint is a subsidiary of Compuware but began as an industry-sponsored marketplace by Ford, GM and Daimler-Chrysler. The Covisint web-site, under About Us, gives a good description of the functions of the marketplace. www.covisint.com Private marketplaces, (one-to-many model) is a portal designed by a single entity intended to streamline the way trading partners interact with the private marketplace sponsor. Most large retailers, manufacturers, wholesalers and distributors that sell or buy from other corporations have private marketplaces set up to check inventory, accept orders, present invoices, track shipments, etc.
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Other answers
private- nongovernment sponsored business, owned by publicly traded stock, like the NYSE. industry sponsored- funding is provided by the main industry, not the general public. for example, the "Milk, it does a body good" advertisements are sponsored by American Dairy Farmers, not a private company, such as PET Dairy
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