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How is Dynamic Password defined in a legal contract?

• Dynamic Password means an OTP (One Time Password) that is generated by a reader using a certain algorithm. Seen in 5 SEC filings
• Dynamic Password means a password that is determined by a specific model, ensuring that each identifier has a distinct password. Likewise, each model would generate a different password for the same identifier. Seen in 3 SEC filings
• Dynamic Password means a unique OTP (One Time Password), key, or token, which is not repeated, and is generated according to a special numerical calculation via a Security Token. Seen in 2 SEC filings

Note: 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.

yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 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

Dynamic Password means a unique One Time Password (OTP) generated by a [device] for each unique [identifier].

Relevant Contract Types

• Software Development Agreement
• Data Processing Agreement
• SaaS Agreement
• Cybersecurity Policy

Relevant Circumstances

• Implementing a new software system
• Establishing security protocols
• Integrating service provider software

Relevant Sectors

• Technology
• Finance
• Healthcare

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Genie Definition 2

Dynamic Password means a distinct key or token calculated via a [Security Token].

Relevant Contract Types

• Software Development Agreement
• Information Security Policy
• Cloud Services Agreement

Relevant Circumstances

• Implementing a cloud-based service
• Data protection and cybersecurity

Relevant Sectors

• Technology
• Banking
• Telecommunications

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