An article of commerce refers to any tangible or intangible item or commodity that is produced, bought, sold, or traded in the market. It is a broad term encompassing a wide range of physical goods, products, and services that are commercially exchanged for monetary value.
In its physical sense, an article of commerce includes manufactured goods, raw materials, machinery, tools, equipment, and other tangible objects that are utilized in various industries or sectors. These items can be either finished products ready for sale or components used for production purposes. Intangible articles of commerce comprise intellectual property rights, such as patents, copyrights, trademarks, or even digital assets, all of which possess commercial value and are legally protected.
Undoubtedly, articles of commerce are crucial in facilitating trade and economic activities, as they form the foundation of markets and transactions. They are typically subject to market demand and supply, and their value is determined based on factors like scarcity, utility, quality, and market conditions. Articles of commerce enable businesses to generate revenue and create profit by meeting consumers' needs and desires.
The concept of articles of commerce extends beyond physical exchange to cover services as well. Services offered by professionals, such as legal, financial, educational, healthcare, or hospitality services, are also considered articles of commerce since they involve transactional activities that deliver value to consumers.
Overall, an article of commerce embodies the diverse range of goods, products, and services that are produced, exchanged, and consumed in the marketplace, playing a vital role in the economy's functioning and growth.
