Innovation Without Invention Discussion Paper.
Innovation Without Invention Discussion Paper.
Invention is the creation of a NEW product or process. When you invent something, you are (to use intellectual property law parlance) creating something new, useful, and unobvious.
Innovation is when you improve or contribute some significant additional advantage to a product or process. Innovation can be thought of as doing or making something much better.Innovation Without Invention Discussion Paper.
There are significant overlaps. First, for example, someone invents the television. It was a marvel with commercial success. Families who could afford them, would gather around and watch these black and white motion pictures instead of listening to the radio. Later, someone came along and invented the color television. This was both an innovation (an improvement on the existing technology) and an invention (the elements of a television that enable transmission, reception, processing, and display of color images in motion).
Improvement of existing technologies, and finding better and more efficient uses for existing processes and products is an innovation. It may be a revolutionary innovation if someone found that the use of an existing drug (already invented) could cure cancer. It may be an innovation if someone discovered a way to fly existing airplane designs in a new way that reduced fuel consumption by 50%. (Both of those examples would be nice if they were real.)
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Companies and individuals who are able to push the bounds of the technology that they work in through innovation and sometimes invention often reap the rewards through increased profit. Often, the research, effort, and focus on a particular problem needed for innovation results in potential inventions becoming obvious.Innovation Without Invention Discussion Paper.
Those who put intense focus and effort into a particular field or area of technology often develop a deep knowledge and see problems in a new light which leads to invention opportunities.
Innovation Without Invention Discussion Paper.
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