Definition of the word guild

The word "guild" originated in the Middle Ages, specifically in the 12th century, in Europe. The term was first used to describe associations or organizations of merchants, artisans, and craftsmen who banded together for mutual support and protection. In Old English, the word for such an association was "gilde," which was derived from the word "gieldan," meaning to pay or contribute. This referred to the practice of the members contributing money or resources to provide financial assistance to the group or help support their fellow members through difficult times. Over time, the meaning of "guild" evolved to include various aspects of trade, including regulating quality, fixing prices, setting standards, and negotiating with local authorities. Today, the term "guild" is still used to describe professional organizations, trade associations, and other types of associations formed around common interests or professions.