We use the scattering approach to investigate the nonlinear current-voltage characteristic of mesoscopic conductors. We discuss the leading nonlinearity by taking into account the self-consistent nonequilibrium potential. We emphasize conservation of the overall charge and current which are connected to the invariance under a global voltage shift (gauge invariance). As examples, we discuss the rectification coefficient of a quantum point contact and the nonlinear current-voltage characteristic of a resonant level in a double barrier structure.