North American Industry Classification System
/ˈnɔrθ əˈmɛrɪkən ˈɪndəstri ˌklæsɪfɪˈkeɪʃən ˈsɪstəm/
Definitions
- (n.) A standardized system used by federal statistical agencies to classify business establishments for the purpose of collecting, analyzing, and publishing economic data.
The court referred to the North American Industry Classification System to determine the industry sector relevant to the contract dispute.
Forms
- north american industry classification system
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Commentary
The NAICS is often cited in legal contexts involving regulatory compliance and economic analysis; precise classification can affect jurisdiction and statutory applicability.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.