Guilds are associations of artisans or merchants who come together to promote their common interests and regulate their trade. Historically, they played a crucial role in the economy by setting standards for quality, training apprentices, and protecting their members from competition. Guilds often had specific rules and requirements for membership, ensuring that only skilled individuals could join. In the Middle Ages, guilds were prominent in European cities, influencing local economies and politics. They organized festivals, maintained trade secrets, and provided social support for members. Over time, many guilds evolved into modern professional organizations, continuing to advocate for their members' rights and interests in various industries.