Generally, a fishery is an entity engaged in raising or harvesting fish which is determined by some authority to be a fishery. According to the FAO, a fishery is typically defined in terms of the "people involved, species or type of fish, area of water or seabed, method of fishing, class of boats, purpose of the activities or a combination of the foregoing features". The definition often includes a combination of fish and fishers in a region, the latter fishing for similar species with similar gear types.
A fishery may involve the capture of wild fish or raising fish through fish farming or aquaculture. Directly or indirectly, the livelihood of over 500 million people in developing countries depends on fisheries and aquaculture. Overfishing, including the taking of fish beyond sustainable levels, is reducing fish stocks and employment in many world regions. If fisheries are poorly managed, environmental impacts go unchecked. Unsustainable fishing practices put seafood resources and fishing livelihoods at risk – the United Nations FAO estimates that 11 of the world's 15 major fishing areas, and 69 percent of the world's major fish species, are in decline and in need of urgent management.