From medieval times until the mid-19th century the Craft Guilds of London, better known as the City Livery Companies, were closely connected with the freedom of the City of London. Liverymen had to be freemen of the City, and in this way the Corporation of London managed to exercise a degree of control over the livery companies. These were probably already long established bodies. The Livery Companies continue to flourish, fostering their trade in a wide context. In keeping with their origins, the companies provide substantial funds to charitable and educational organisations.
Much support goes to universities and other vocational institutions.
A growing number of companies are involved in apprenticeship schemes. The companies also carry out important functions in the elections of the government of the City of London and certain of its officers. After many years of fierce dispute, an order of precedence for Livery Companies was finally settled in 1515, starting with Mercers. As a result of controversy over the sixth place, the Merchant Taylors and the Skinners change places every year. The first twelve Companies are known as the Great Twelve.