Livery company
A livery company is one of the City of London's trade associations, descended from medieval guilds, which today work mainly as charities, professional networks and part of the City's government. Most have "Worshipful Company of" in their name: the Mercers, the Goldsmiths, the Fishmongers.
In practice
There are more than a hundred livery companies. The oldest represent medieval trades; newer ones represent modern professions, such as information technologists, tax advisers and world traders. Members who have taken up "the livery" are called liverymen and help elect the City's Sheriffs and the Lord Mayor. Companies run charities, schools and almshouses, award apprenticeships and prizes, and hold dinners in their livery halls, some of which are among the finest historic interiors in London.
Why it matters to newcomers
Livery companies are an established networking route in the City, especially for people in finance, law, engineering and the professions. Membership usually comes through an invitation or sponsorship by existing members and requires the Freedom of the City. If you are invited to a livery dinner, expect a dress code and a long evening of toasts.
Related
- Square Mile - where the livery companies have their halls
- Lord Mayor - elected in part by liverymen
- Inns of Court - the equivalent institutions for barristers
Source: City of London Corporation.