Define: New Technology

How is New Technology defined in a legal contract?

• New Technology means an invention, discovery, improvement, or innovation that was not available to [organization] at the effective date of the contract. These include non-patentable items such as new processes, emerging technology, machines, and improvements to existing processes, machines, software. It also comprises new computer programs, improvements to existing computer programs, new processes, machines, including software, and improvements to existing processes, machines, software. Seen in 23 SEC filings.
• New Technology means methods, products, processes and procedures developed through science or research. Seen in 15 SEC filings.
• New Technology or Upgrade means any enhancement or addition to Software (other than an Update) which is not available to its commercial customers as part of the standard Maintenance Services offering, but rather is only provided subject to the payment of a separate fee. Monetary transactions regarding new technology and upgrades are not covered by, and will not be provided in consideration of the fees already paid unless otherwise specified in an order. Seen in 9 SEC filings.
• New Technology means machinery, equipment, materials or methods of a different nature than those previously used that are new and will have a significant impact on employees. A collective agreement is signed within 30 days of the company deciding to introduce new technology, and the company notifies the union of its intentions. If new technology necessitates the acquisition of new abilities and knowledge, the company will make every cost-effective effort to train employees, with preference being given to seniors in the affected classifications, to adapt to the technological change. Seen in 6 SEC filings.
• New Technology means any force-feedback technology modification or addition that changes the utility, efficiency, market value, functional capability or application of the device and is developed on a non-exclusive basis. When the new technology is made ""generally available"" for use, it is delivered by Immersion to Logitech under the terms of Section 7.4. Seen in 5 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 new technology' yourself to verify these results. We are always keen to point people to source documents.

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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.

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Genie Definition 1

• New Technology means any invention, discovery, improvement, innovation or enhancement to software, made available after an agreed effective date.

Relevant Contract Types

• Software Licensing Agreement
• Research and Development Agreement
• Technology Transfer Agreement

Relevant Circumstances

• Introduction of a new software product.
• Enhancement or upgrade to an existing product line.
• Licensing of software improvements and innovations to a third party.

Relevant Sectors

• Technology
• Software Development
• Telecommunications

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Genie Definition 2

• New Technology means new methods, products, procedures resulting from science or research. Inclusive of force-feedback technology modifications for devices.

Relevant Contract Types

• Research and Development Agreement
• Joint Venture Agreement
• Product Development Agreement

Relevant Circumstances

• Introduction of a novel scientific method or process.
• Collaboration for research and development purposes.
• Creation of new products using innovative techniques.

Relevant Sectors

• Biotechnology
• Pharmaceuticals
• Manufacturing

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