standard industrial classification system


Standard Industrial Classification

A system of four digit codes used in business to classify the industry to which a company belongs. The SIC was created by the U.S. government in 1937 to facilitate communication within and between businesses and industries. For the most part, the SIC was replaced by the six digit NAICS in 1997, but the SEC still uses the SIC. For example, an oil and gas exploration company might file with the SEC under the code 1382.

standard industrial classification system (SIC)

A classification of businesses and business units by type of economic activity. The system uses from a one-digit to a four-digit classification depending on how narrowly the business unit is defined. There are 11 one-digit groupings and more than 1,000 four-digit groupings.
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