Native deep cloning

It's called "structured cloning", works experimentally in Node 11 and later, and hopefully will land in browsers. See this answer for more details.

Fast cloning with data loss - JSON.parse/stringify

If you do not use Dates, functions, undefined, Infinity, RegExps, Maps, Sets, Blobs, FileLists, ImageDatas, sparse Arrays, Typed Arrays or other complex types within your object, a very simple one liner to deep clone an object is:

JSON.parse(JSON.stringify(object))

const a = {
  string: 'string',
  number: 123,
  bool: false,
  nul: null,
  date: new Date(),  // stringified
  undef: undefined,  // lost
  inf: Infinity,  // forced to 'null'
  re: /.*/,  // lost
}
console.log(a);
console.log(typeof a.date);  // Date object
const clone = JSON.parse(JSON.stringify(a));
console.log(clone);
console.log(typeof clone.date);  // result of .toISOString()

See Corban's answer for benchmarks.

Reliable cloning using a library

Since cloning objects is not trivial (complex types, circular references, function etc.), most major libraries provide function to clone objects. Don't reinvent the wheel - if you're already using a library, check if it has an object cloning function. For example,

• lodash - cloneDeep; can be imported separately via the lodash.clonedeep module and is probably your best choice if you're not already using a library that provides a deep cloning function
• AngularJS - angular.copy
• jQuery - jQuery.extend(true, { }, oldObject); .clone() only clones DOM elements
• just library - just-clone; Part of a library of zero-dependency npm modules that do just do one thing. Guilt-free utilities for every occasion.

ES6 (shallow copy)

For completeness, note that ES6 offers two shallow copy mechanisms: Object.assign() and the spread syntax. which copies values of all enumerable own properties from one object to another. For example:

var A1 = {a: "2"};
var A2 = Object.assign({}, A1);
var A3 = {...A1};  // Spread Syntax

ECMAScript 2018 Standard Method

You would use object spread:

let merged = {...obj1, ...obj2};

merged is now the union of obj1 and obj2. Properties in obj2 will overwrite those in obj1.

/** There's no limit to the number of objects you can merge.
 *  Later properties overwrite earlier properties with the same name. */
const allRules = {...obj1, ...obj2, ...obj3};

Here is also the MDN documentation for this syntax. If you're using babel you'll need the babel-plugin-transform-object-rest-spread plugin for it to work.

ECMAScript 2015 (ES6) Standard Method

/* For the case in question, you would do: */
Object.assign(obj1, obj2);

/** There's no limit to the number of objects you can merge.
 *  All objects get merged into the first object. 
 *  Only the object in the first argument is mutated and returned.
 *  Later properties overwrite earlier properties with the same name. */
const allRules = Object.assign({}, obj1, obj2, obj3, etc);

(see MDN JavaScript Reference)

Method for ES5 and Earlier

for (var attrname in obj2) { obj1[attrname] = obj2[attrname]; }

Note that this will simply add all attributes of obj2 to obj1 which might not be what you want if you still want to use the unmodified obj1.

If you're using a framework that craps all over your prototypes then you have to get fancier with checks like hasOwnProperty, but that code will work for 99% of cases.

Example function:

/**
 * Overwrites obj1's values with obj2's and adds obj2's if non existent in obj1
 * @param obj1
 * @param obj2
 * @returns obj3 a new object based on obj1 and obj2
 */
function merge_options(obj1,obj2){
    var obj3 = {};
    for (var attrname in obj1) { obj3[attrname] = obj1[attrname]; }
    for (var attrname in obj2) { obj3[attrname] = obj2[attrname]; }
    return obj3;
}