Guild
A guild is an association of artisans or merchants formed in medieval Europe to protect mutual interests and regulate a craft or trade. The term originated in this period and refers to organized groups that governed trades in towns and cities, providing social support, mutual aid, and collective bargaining. Guilds were often divided into apprentices, journeymen, and masters, and they operated under statutes that limited entry, set standards, trained workers, and controlled prices and quality.
Historically, craft guilds supervised production and quality, while merchant guilds regulated trade within a city or
In the modern era, state regulation, industrialization, and professional licensing reduced the power of traditional guilds,