Posts by category: Business and Entrepreneurship



In my exploration of the terms 'invention' and 'innovation,' I've found they are not exactly synonymous. An invention refers to the creation of a product or introduction of a process for the first time. On the other hand, innovation occurs if someone improves on or makes a significant contribution to an existing product, process or service. So, while both concepts involve introducing something new, the primary difference lies in the degree of novelty and the scale of change. It's like saying all squares are rectangles, but not all rectangles are squares.
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