Invention and Innovation

Invention is a core component of innovation, but it is not the same as innovation, and the inventor does not have to be party to, or involved in any way in the subsequent innovation that exploits their invention. The two are separate processes with innovation dependent on invention but invention not being dependent upon innovation. Invention is dependent upon creativity, novelty and utility and so questions are asked about the role of creativity in invention and how this is influenced by circumstance and the different classes and origins of opportunity that drive subsequent innovation and whether innovation is wholly research dependent? The chapter also addresses how innovation is best categorised, given a multitude of approaches and parties engaged in its delivery; what institutional factors influence success, and why is priority given to product and process innovation when the economies of so many advanced nations are service-based?