Legal Definitions - industry

Definition: Industry refers to the diligent and systematic work done for a useful purpose, especially in manufacturing or production. It can also refer to a specific branch of productive labor that involves enterprises with similar production and marketing facilities, producing items with similar characteristics.

• A car manufacturing company is an example of an industry. It involves the production of cars using similar facilities and techniques to create items with similar characteristics.
• The fashion industry involves the production and marketing of clothing and accessories. It includes various enterprises that use similar production and marketing facilities to create items with similar characteristics.
• The technology industry involves the production and development of electronic devices and software. It includes various enterprises that use similar production and marketing facilities to create items with similar characteristics.

These examples illustrate the concept of industry as a specific branch of productive labor that involves enterprises with similar production and marketing facilities, producing items with similar characteristics. Each industry has its own unique characteristics and techniques, but they all share the common goal of producing useful items for consumers.