NOTE: THESE DEFINITIONS DON'T COME EASILY AND I DEFINITELY DID NOT COPY IT FROM DICTIONARY, ANY LOSER WOULD DO THAT BUT I DON'T.
Difference between Invention & Innovation:
Definition 1:
Invention is a discovery. For example: discovery of Radium
Innovation is using the invention in better manner. For example: Using Radium in watch for glow.
Definition 2:
Invention is a narrow term.
Innovation is a broader term where you do research and try to create better things out of the same.
Definition 3:
Invention is the formulation of new ideas for products or processes.
Innovation is all about the practical application of new inventions into marketable products or services.
Definition 4:
Inventions are entirely unique and new creations.
Innovations are new uses or or additions to already existing inventions.
Definition 5:
Invention is to new mouse trap.
Innovation is to better mouse trap.
Definition 6:
Invention is introducing new concept.
Innovation is adding to an existing concept.
Definition 7:
Invention involves identifying a need and creating a new product or service to meet that need.
Innovation involves identifying a need, looking around to see what products or services that already exist might meet that need and creatively position, or promoting them to the needs.
Definition 8:
Invention is more or less the new idea or resulting new product. It might also relate to how the idea was discovered. It is usually technical or scientific, although not all new idea are as such.
Innovation is more or less the process of implementing a creative idea. It is usually a cumbersome process. It might include the process of generating the creative idea too. Innovations is transforming the creative idea into a marketable product.
Definition 9:
Invention = New idea.
Innovation = Application of new idea and looking at it from a commercial point of view.
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