The term 'of long standing' is used to describe something that has been around for a long period of time. This can be expressed in three different ways: OLD (3 letters), AGEOLD (6 letters), and OLDTIME (7 letters). The word 'OLD' implies something that has been around for a while, while 'ageold' and 'oldtime' suggest something that has been around for an even longer period of time. All three words are used to describe something that has been around for a long time.