renewal n1 : the act or process of renewing [a of the copyright]
2 : the quality or state of being renewed
3 : something renewed
4 : something used for renewing
: an expenditure that betters existing fixed assets
5 : the rebuilding of a large area (as of a city) by a public authority
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.