Ga. Code § 50-7-90

Current through 2023-2024 Legislative Session Chapter 709

Section 50-7-90 - Definitions

As used in this Code section, the term:

(1) "Innovation" means the use or incorporation of a new idea, a new or emerging technology, or a new use of existing technology to address a problem, provide a benefit, or otherwise offer a product or service.

(2) "Innovative product or service" means a product or service that includes an innovation.

(3) "Startup" means an entity that:

(A) Once it is operational, intends to:

(i) Offer an innovative product or service as its principal function;

(ii) Be registered as a business entity in Georgia; and

(iii) Have its principal place of business in Georgia; and

(B) Was created or developed by one or more individuals who have never owned, directly or indirectly, more than 25 percent of any business that has had more than $100,000.00 in gross receipts in a single year.

OCGA § 50-7-90

Added by 2021 Ga. Laws 161,§ 3, eff. 7/1/2021.

Repealed and reserved by 2018 Ga. Laws 289,§ 1, eff. 7/1/2018.

Added by 2015 Ga. Laws 186,§ 2, eff. 7/1/2015.