  The standard model picture of flavor and CP violation is now experimentally
verified, hence strong bounds on the flavor structure of new physics follow. We
begin by discussing in detail the unique way that flavor conversion and CP
violation arise in the standard model. The description provided is based on a
spurion, symmetry oriented, analysis, and a covariant basis for describing
flavor transition processes is introduced, in order to make the discussion
transparent for non-experts. We show how to derive model independent bounds on
generic new physics models. Furthermore, we demonstrate, using the covariant
basis, how recent data and LHC projections can be applied to constrain models
with an arbitrary mechanism of alignment. Next, we discuss the various limits
of the minimal flavor violation framework and their phenomenological aspects,
as well as the implications to the underlying microscopic origin of the
framework. We also briefly discuss aspects of supersymmetry and warped extra
dimension flavor violation. Finally we speculate on the possible role of flavor
physics in the LHC era.
