Daniel A. Farber,
Commercial Speech and First Amendment Theory, 74
Nw. U. L. Rev.
Available at: http://scholarship.law.berkeley.edu/facpubs/1467
A series of US Supreme Court cases are considered that have held that commercial advertising is sometimes protected from government regulation by the first amendment of the Constitution. It is concluded that advertising has two components: (1) a contractual component, which can be freely regulated by the government, & (2) an informational component, which cannot be regulated because it is a form of free speech. AA