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.

Rand Brenner Author
Founder , Licensing4Profits
Rand Brenner is an IP professional whose passion is helping inventors, startups, and businesses of all sizes use licensing to turn their IP into income-producing products, services, and technologies. His decades of experience includes medical devices to food technology to consumer products. He’s licensed some of the biggest Hollywood entertainment blockbusters including the Batman Movies (1 and 2), and the Mighty Morphin Power Rangers. Rand is a featured speaker on licensing at investment conferences, trade shows, colleges and startup events. He’s a published writer with articles appearing in several prestigious trade magazines. Rand also mentors at Cal State Fullerton Business School and is a judge for their startup business plan competitions.

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