Difference Between Invention and Innovation

Introduction

We all know that neither technologies nor products are permanent in our world. Since technology is updated and enhanced daily, discoveries and advancements are created in many areas of life. The term "invention" describes the development of a new product or the machine. On the other hand, adding new methods or ideas to an existing item or procedure is known as innovation.

At first look, the two concepts seem to be similar, but close inspection reveals a key distinction between invention and innovation that lies in their implications. Innovation is the procedure of making a creative concept into reality, while invention is all about creating or designing something.

Comparison Chart

At first look, the two concepts seem to be similar, but close inspection reveals a key distinction between invention and innovation that lies in their implications. Innovation is the procedure of making a creative concept into reality, while invention is all about creating or designing something.

Comparison Chart

Invention Definition

Developing, designing, or inventing a previously unseen device, technique, or process is called innovation. More precisely, it is a new scientific concept developed by analysis and testing and then materializes as a real object. It might be a new method of creating a product, an upgrade to an existing product, or a brand-new product.

Patenting an invention gives the inventor coverage for their intellectual property rights and specifies the item as a real invention. Also, the procedure is expensive and subject to different laws depending on the country. The innovation must be new, valuable, and non-obvious to be patentable.

Innovation Definition

The term defines innovation as the process of turning an idea into reality. Innovation can be defined in its most basic form as a change that enhances the value of goods or services and meets client requirements. When something innovative and useful enters the market, it meets consumer demands by offering superior goods and services.

A new product, method, technology, or service can be introduced or developed, or an existing one can be improved or redesigned to meet the market's needs better. Innovation includes every step involved in developing and turning a concept into the goods customers are interested in purchasing.

Key Difference between Innovation and Invention

The key differences between innovation and invention are classified as follows:

• The term "invention" describes the development of a concept for a brand-new product or method, and innovation is the first time an idea for a product or process is implemented.
• The development of a new product is connected to the invention. On the other side, innovation is making contributions or modifying the current product.
• The invention is developing an original concept and showing how it theoretically works. Unlike innovation, it is all about putting the new idea into practice.
• The invention calls for scientific understanding. In contrast, innovation requires various marketing, technical, and strategic abilities.
• An invention happens when a scientist has a new idea. On the other hand, innovation occurs when a need for a new product or an improvement to an existing one is identified.
• One specific product or method is the target of the invention. Inversely, innovation emphasizes the integration of multiple goods and services.
• While the organization's research and development department is the only place where the invention can be utilized, the organization is filled with innovation.

Summary

So, because invention and innovation are two distinct ideas, it can be stated that they are not the same thing. These activities need substantial financial expenditure during the research phase. Moreover, innovation is introducing a successful method of utilizing, creating, or distributing something, while invention is discovering something original or new.

A concept is considered an invention when shown to be practical, which is a key distinction between invention and innovation. On the other side, innovation is when a concept is validated as applicable and has to be economically viable and meet a particular need.