What is an invention?
An invention is "the discovery or creation of a new material (either a new manufactured product or a new composition or matter), a new process, a new use for an existing material, or any improvements.
It can sometimes be difficult to identify which part of a complex research effort might constitute an invention. To avoid overlooking inventions, err on the side of inclusion.
Inventions may include:
New technologies
Biological materials
Computer software
Copyrightable materials
New tools or processes developed to meet a particular research objective
What is and Innovation?
The process by which an idea or invention is translated into a good or service for which people will pay, or something that results from this process.
Innovation is linked to performance and growth through improvements in efficiency, productivity, quality, competitive positioning and market share. It typically adds value by changing old organizational forms and practices. Organizations that do not innovate effectively may be destroyed by those who do.
Innovation by businesses is achieved in many ways; through formal research and development for "breakthrough innovations" as well as through less formal on-the-job modifications of practice-such as through exchange, personal experience and by many other routes. Regardless, innovations do not just happen-they are a team effort. Most successful innovation occurs at the boundaries of organizations and industries where the problems and needs of users and the potential of technologies are linked together in a creative and collaborative process that challenges both.
What is Novelty?
Novelty is the quality of being new, or following from that, of being striking, original or unusual.Although it may be said to have an objective dimension it generally exists in the subjective perceptions of individuals.
From the meaning of being unusual usage is derived the concept of the novelty dance (a type of dance that is popular for being unusual or humorous), the novelty song (a musical item that capitalizes on something new, unusual, or a current fad), the novelty show (a competition or display in which exhibits or specimens are in way some novel), and novelty architecture (a building or other structure that is interesting because it has an amusing design). It is also this sense that applies to a novelty item, a small manufactured adornment, toy or collectible. These, in turn are often used as promotional merchandise in marketing. The chess term, novelty, is used for a move in chess which has never been played before in a recorded game.
