Although there is legally protected definition of fair trade,
the generally accepted definition of fair trade is:
"Fair Trade is a trading partnership, based on dialogue,
transparency and respect, that seeks greater equity in
international trade. It contributes to sustainable development by
offering better trading conditions to, and securing the rights of,
marginalized producers and workers - especially in the South."
The World Fair Trade Organization (WFTO) has adopted 10 fair trade
principles that lay the foundations for the fair trade movement's
operations:
More information about these 10 fair trade principles is
available here.