What is Innovation vs. an Invention?

You’ve discovered something you believe is valuable.  It could be a new idea, gadget, device, process, design or a composition.  Whatever it is, in order to unlock its value, you will need to embark on a process to bring the concept to fruition.  This process is called innovation … taking a new idea to commercialization.

Innovation and invention are sometimes used interchangeably.  But if you looked up the definition of the words in a dictionary, you will find there is a distinct difference.  Invention is defined as “a device, contrivance or process originated after study and experiment.”  Innovation is defined as “the introduction of something new”. 
New Innovative Product

The commercial sector is always on the lookout for new opportunities and licensing is the tool that partners IP owners with businesses and entrepreneurs to implement the commercialization process and introduce the IP to the marketplace.

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