Department of Commerce (DOC)

Definition

U.S. governmental agency established to oversee U.S. and international commerce by way of promoting, developing and fostering economic, community, and workforce development. There is a federal Department of Commerce and a state-level Department of Commerce. Both governmental agencies have similar goals but have different rules and regulations. For example, the state Department of Commerce might provide a tax relief for company expenses related to becoming more energy efficient while the federal Department of Commerce might give a federal tax break for companies that are already energy efficient. Also called Commerce Department.