A three parameter scaling relationship between isotopic distributions for elements with Z< or =8 has been observed. This allows a simple description of the dependence of such distributions on the overall isospin of the system. This scaling law (termed isoscaling) applies for a variety of reaction mechanisms that are dominated by phase space, including evaporation, multifragmentation, and deeply inelastic scattering. The origins of this scaling behavior for the various reaction mechanisms are explained. For multifragmentation processes, the systematics is influenced by the density dependence of the asymmetry term of the equation of state.