Generic Name Law and Legal Definition
Generic name means the name of a genus. This term is usually used to name a class or category of products or services. A generic name does not include a trademark or brand name.
In the context of insurance law, generic name means a short title descriptive of the annuity contract being applied for or illustrated as "single premium deferred annuity". [A.R.S. § 20-1242].
Under pharmaceutical laws the term generic name means the official title of a drug or drug ingredient published in the current official United States Pharmacopoeia and National Formulary, official Homeopathic Pharmacopoeia, or other drug compendium published by the United States pharmacopoeial convention or any supplement to any of them. [Iowa Code § 155A.3].
