A Latin term meaning 'trade' or 'commerce'; sometimes used in English legal or historical contexts to refer to trading rights or commercial relationships.
From Latin commercium, from com- ('with') + merx ('merchandise'). This Latin term was adopted into English legal and scholarly vocabulary during the Middle Ages when Latin dominated educated discourse.
In medieval Latin documents, 'commercium' often referred to specific trading rights granted to cities — it was literally the right to make money, which kings sold like franchises.
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