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Part of the Business terms glossary: A neologism (pronounced nee-AH-low-djism) is a newly invented word or term. Neologisms would seem to occur at a greater rate in cultures with rapidly changing technologies and with greater means for information dispersal.A neology is, according to our Webster's, the use of a new word or the use of an existing word but given a new meaning.eologisms would seem to occur at a greater rate in cultures with rapidly changing technologies and with greater means for information dispersal. A neology is, according to our Webster's, the use of a new word or the use of an existing word but given a new meaning.