INVENTIONS AND INNOVATIONS 

                                                                                                                                                                                    INVENTIONS:                                                                                                                                                                                   An invention is a unique or novel device, method, composition or 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.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.The idea for an invention may be developed on paper or on a computer, by writing or drawing, by trial and error, by making models, by experimenting, by testing and/or by making the invention in its whole form. Brainstorming also can spark new ideas for an invention. Collaborative creative processes are frequently used by designers, architects and scientists. Co-inventors are frequently named on patents.In addition, many inventors keep records of their working process - notebooks, photos, etc., including Leonardo DA Vinci, Thomas Jefferson and Albert Einstein.In the process of developing an invention, the initial idea may change. The invention may become simpler, more practical, it may expand, or it may even morph into something totally different. Working on one invention can lead to others too.                                                                                                                                           

INNOVATION:

Innovation is the application of better solutions that meet new requirements, inarticulated needs, or existing market needs. This is accomplished through more effective products, processes,services, technologies, or ideas that are readily available to markets, governments and society. The term innovation can be defined as something original and, as consequence, new that "breaks in to" the market or into society. One usually associates to new phenomena that are important in some way. A definition of the term, in line with these aspects, would be the following: "An innovation is something original, new, and important - in whatever field - that breaks in to (or obtains a foothold in) a market or society."While something novel is often described as an innovation, in economics, management science and other fields of practice and analysis it is generally considered a process that brings together various novel ideas in a way that they have an impact on society.Innovation differs from invention in that innovation refers to the use of a better and, as a result, novel idea or method, whereas invention refers more directly to the creation of the idea or method itself.Innovation differs from improvement in that innovation refers to the notion of doing something different rather than doing the same thing better.There are several sources of innovation. It can occur as a result of a focus effort by a range of different agents, by chance, or as a result of a major system failure.According to Peter F. Drucker the general sources of innovations are different changes in industry structure, in market structure, in local and global demographics, in human perception, mood and meaning, in the amount of already available scientific knowledge, etc..In the simplest linear model of innovation the traditionally recognized source is manufacturer innovation. This is where an agent (person or business) innovates in order to sell the innovation.Another source of innovation, only now becoming widely recognized, is end-user innovation. This is where an agent (person or company) develops an innovation for their own (personal or in-house) use because existing products do not meet their needs. MIT economist Eric von Hippel has identified end-user innovation as, by far, the most important and critical in his classic book on the subject, Sources of Innovation.