Commercial speech consists of statements made by companies engaged in business activity. In contrast with free speech, commercial speech is highly regulated by government.
The federal government regulates commercial speech in nearly every industry. For example, the Federal Trade Commission (FTC) is the federal agency that regulates advertising, except for prescription drugs and medical devices, which are regulated by the Food and Drug Administration (FDA). In another example, there are federal prohibitions on speech that can be used in mailings.