Industrial Standards Law and Legal Definition

Industry standards are a set of criteria within an industry relating to the standard functioning and carrying out of operations in their respective fields of production. In other words it is the generally accepted requirements followed by the members of an industry. It provides an orderly and systematic formulation, adoption, or application of standards used in a particular industry or sector of the economy. Industry standards vary from one industry to another.

Industry standards facilitate global as well as domestic competitiveness. It is a crucial tool for developing and meeting industry goals. For Example in the automotive industry, tire sizes and durability must fall within a standardized range.. Standardization serves as a quality check for any industry.

Example of a piece of statute in Alabama mentioning Industry standards.

Code of Ala. § 41-7A-22 on Tax incentives for Film Projects says:

§ 41-7A-22. Qualification procedures.

(a) The Alabama Film Office shall establish a procedure and qualification standards, based upon industry standards and competition with other states and locations, for a company to apply for approval for each film project to qualify for any of the incentives provided by this article.