Main Difference
The main difference between Invention and Innovation is that the Invention is a the act of inventing something and Innovation is a application of better solutions that meet new requirements, inarticulated needs, or existing market needs.
Invention
An invention is a unique or novel device, method, composition or process. The invention process is a process within an overall engineering and product development process. It may be an improvement upon a machine or product or a new process for creating an object or a result. An invention that achieves a completely unique function or result may be a radical breakthrough. Such works are novel and not obvious to others skilled in the same field. An inventor may be taking a big step in success or failure.
Some inventions can be patented. A patent legally protects the intellectual property rights of the inventor and legally recognizes that a claimed invention is actually an invention. The rules and requirements for patenting an invention vary from country to country and the process of obtaining a patent is often expensive.
Another meaning of invention is cultural invention, which is an innovative set of useful social behaviours adopted by people and passed on to others. The Institute for Social Inventions collected many such ideas in magazines and books.
Invention is also an important component of artistic and design creativity. Inventions often extend the boundaries of human knowledge, experience or capability.
Innovation
Innovation in its modern meaning is a “new idea, creative thoughts, new imaginations in form of device or method”. Innovation is often also viewed as the application of better solutions that meet new requirements, unarticulated needs, or existing market needs. Such innovation takes place through the provision of more-effective products, processes, services, technologies, or business models that are made available to markets, governments and society. An innovation is something original and more effective and, as a consequence, new, that “breaks into” the market or society. Innovation is related to, but not the same as, invention, as innovation is more apt to involve the practical implementation of an invention (i.e. new/improved ability) to make a meaningful impact in the market or society, and not all innovations require an invention. Innovation often manifests itself via the engineering process, when the problem being solved is of a technical or scientific nature. The opposite of innovation is exnovation.
While a novel device is often described as an innovation, in economics, management science, and other fields of practice and analysis, innovation is generally considered to be the result of a process that brings together various novel ideas in such a way that they affect society. In industrial economics, innovations are created and found empirically from services to meet growing consumer demand.Innovation also has an older historical meaning which is quite different. From the 1400s through the 1600s, prior to early American settlement, the concept of “innovation” was pejorative. It was an early modern synonym for rebellion, revolt and heresy.
Invention (noun)
Something invented.
“My new invention will let you alphabetize your matchbook collection in half the usual time.”
“I’m afraid there was no burglar. It was all the housekeeper’s invention.”
Invention (noun)
The act of inventing.
“The invention of the printing press was probably the most significant innovation of the medieval ages.”
Invention (noun)
The capacity to invent.
“It took quite a bit of invention to come up with a plan, but we did it.”
Invention (noun)
A small, self-contained composition, particularly those in J.S. Bach’s Two- and Three-part Inventions.
“I particularly like the inventions in C-minor.”
Invention (noun)
The act of discovering or finding; the act of finding out; discovery.
“That judicial method which serveth best for the invention of truth.”
Innovation (noun)
The act of innovating; the introduction of something new, in customs, rites, etc.
Innovation (noun)
A change effected by innovating; a change in customs
“The others, whose time had been more actively employed, began to shew symptoms of innovation,—”the good wine did its good office.” The frost of etiquette, and pride of birth, began to give way before the genial blessings of this benign constellation, and the formal appellatives with which the three dignitaries had hitherto addressed each other, were now familiarly abbreviated into Tully, Bally, and Killie. |inline=1|Sir Walter Scott, Waverley, ch. xi.”
Innovation (noun)
Something new, and contrary to established customs, manners, or rites.
Innovation (noun)
A newly formed shoot, or the annually produced addition to the stems of many mosses.
Invention (noun)
the action of inventing something, typically a process or device
“the invention of printing in the 15th century”
Invention (noun)
something, typically a process or device, that has been invented
“medieval inventions included spectacles for reading and the spinning wheel”
Invention (noun)
creative ability
“his powers of invention were rather limited”
Invention (noun)
something fabricated or made up
“you know my story is an invention”
Invention (noun)
used as a title for a short piece of music
“Bach’s two-part Inventions”
Innovation (noun)
the action or process of innovating
“innovation is crucial to the continuing success of any organization”
Innovation (noun)
a new method, idea, product, etc.
“technological innovations designed to save energy”