Noun

1. A word or phrase which has recently been coined; a new word or phrase.
2. The act or instance of coining, or uttering a new word.
3. The newly coined, meaningless words or phrases of someone with a psychosis, usually schizophrenia.

Usage notes

For a word to be no longer considered new, it needs to be understood by a significant portion of the population as having always been a valid word. For that to occur the word must have been in common use for approximately one generation — fifteen to twenty years — but there is no universally accepted measure.