Define: Improved Technology

How is Improved Technology defined in a legal contract?

• Improved Technology means the new advancements in software and machines that could significantly impact a business, provided such advancements are acknowledged and utilized in the said business. Seen in 4 SEC filings.
• Improved Technology means any developments in data processing technology, including advancements in software and equipment, that could result in significant changes for a business or its operations. Seen in 2 SEC filings.
• Improved Technology means the new technologies or developments in software and machines that could potentially have a positive impact on the functions of a business, with the condition that such technologies or developments are commonly made available by a vendor or their representatives to the vendor's clients. Seen in 2 SEC filings.
• Improved Technology means any advancements in information processing that includes new software and hardware developments that are generally available. Such advancements should be able to alter positively how a business operates, or how that business interacts with service providers. Seen in 2 SEC filings.
• Improved Technology means the emergence of new information processing technologies, including software and hardware developments, as well as upgrades in project implementation techniques that are expected to have a tangible impact on a business. Seen in 2 SEC filings.
• Improved Technology means any advancements in technology, including new or enhanced methodologies, processes, software, equipment, telecommunications services or other technology services, expected to influence a business significantly. 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 improved 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

Improved Technology means advancements in software, hardware, or processes expected to positively impact a business.

Relevant Contract Types

• Software Licensing Agreements
• IT Services Contracts
• Research and Development Agreements
• Joint Venture Agreements

Relevant Circumstances

• Launching a new technological product or service.
• Collaborations on tech research and development.
• When a business adopts a new software or hardware system.
• During services or goods procurement involving technology.

Relevant Sectors

• Software Development
• Information Technology Services
• Computer Hardware
• Tech Startups

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Genie Definition 2

Improved Technology means commercially available data processing developments influencing an [organization]'s operations.

Relevant Contract Types

• Data Processing Agreements
• Outsourcing Contracts
• Business Cooperation Agreements

Relevant Circumstances

• When an organization outsources its data processing needs.
• Collaborations involving sharing or processing of data.
• When a business adopts new data processing technology.

Relevant Sectors

• Data Analytics
• Big Data
• Business Consulting
• Financial Services

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