What did the Medieval Trade Guilds do?

Answer 1

Controlled the trade in their product or service. Like a Railroad union controlling the labor for the railroads.

Answer 2

Basically they were protection organisations, akin both to a modern Trade Union and to a Trade or Professional organisation. They oversaw the way the trade or business was conducted. The weren't always involved in manufacture - I've taken this quote from the website of the Worshipful Company of Scriveners:-


The Worshipful Company of Scriveners is 44th in the order of precedence of the Livery Companies of the City of London. As their name implies the Scriveners have always been, by definition, writers, and they were originally known as Writers of the Court Letter as opposed to the members of the Stationers’ Company, also a City Livery Company, who are derived from the Writers of the Text Letter. Shortly stated this distinction is essentially between those who wrote confidential documents such as wills, charters and legal documents, and those who wrote other books and, in particular in the early years, church service books.

(A 'livery company' is just a fancy name for a trade guild)

They also controlled entry into the business by overseeing such things as apprenticeships.

Answer 3

They regulated weights and scales(aka prices and currency), probally paid for public works, basically gave pensions and medical insurance to members. I believe they set up faires on manors to advertise their talents, which then became permanent towns.

I haven't had Medieval History for monthes, so it isn't the greatest.