How is Individual Activity defined in a legal contract?
- Individual Activity means any autonomous activities engaged with the aim of gaining income or other economic benefits over an extended period. This could include:
- Commercial or industrial activities of any kind, excluding activities connected with the selling and/or leasing of immovable property and transactions involving financial instruments.
- Creative, scientific, professional activities, such as offering professional services, and other similar independent activities.
- Sports activities carried out independently.
- Performance activities pursued independently.
Seen in 2 SEC filings.
Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
Search EDGAR for 'Definitions of individual activity' yourself to verify these results. We are always keen to point people to source documents.
Which definition should you use?
🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Individual Activity means ongoing autonomous endeavors undertaken with a target of producing income or economical gains.
Relevant Contract Types
Relevant Circumstances
- Hiring an employee or independent contractor.
- Establishing a business partnership.
- Engaging a consultant for a business project.
Relevant Sectors
Genie Definition 2
- Individual Activity means self-directed involvement in commercial, creative, sporting or performing fields.
Relevant Contract Types
Relevant Circumstances
- Engaging an artist for a project.
- Arranging a sponsorship or endorsement.
- Creating a performance contract for an event.
- Managing a professional sportsperson's engagements.
Relevant Sectors
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Individual Activity means ongoing autonomous endeavors undertaken with a target of producing income or economical gains.
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