Invention is the creation of something new, while innovation is the implementation of something new. In other words, invention is the idea, while innovation is the process of turning that idea into a reality. For example, the invention of the light bulb was the creation of a new device that could produce light artificially. The innovation of the light bulb was the commercialization of that device and its widespread adoption in homes and businesses. Another example is the invention of the internet. The Internet was invented in the 1960s, but it was not until the 1990s that it became widely accessible to the public. This was due to the innovation of new technologies, such as the World Wide Web and web browsers.

It is important to note that invention and innovation are often closely related. Many inventions are not possible without innovation, and many innovations are based on existing inventions. For example, the invention of the smartphone was not possible without the invention of the transistor and the microprocessor. Similarly, the innovation of the streaming video service Netflix was not possible without the invention of the internet.

Drivers for invention are the factors that motivate people to create new and innovative products, services, or ideas. They can be personal, social, or economic in nature. Some of the most common drivers for invention include:

• Necessity. This is perhaps the most primal driver of invention. Humans have a natural need to find solutions to the challenges they face, and this has led to countless inventions throughout history. For example, the invention of the wheel was driven by the need to find a way to transport goods more efficiently.

• Personal motivation to express creativity. Many inventors are driven by a desire to create something new and unique, or to solve a problem that they are personally passionate about. For example, Leonardo da Vinci was motivated by his personal interest in art, science, and engineering to invent machines and devices such as the flying machine, submarine, and tank.

• Scientific or technical curiosity. Some inventors are driven by a desire to learn more about the world around them and to push the boundaries of what is possible. For example, Marie Curie was motivated by her scientific curiosity about the use of X-rays in medicine to invent the mobile X-ray unit.

• Constructive discontent with current products or services. Many inventors are motivated by a desire to improve upon existing products or services. For example, Steve Jobs was motivated by his frustration with the existing smartphones on the market to invent the iPhone.

• Desire to make money. Some inventors are motivated by a desire to create new products or services that will be commercially successful. For example, Thomas Edison was motivated by his desire to make money from his inventions, such as the light bulb and the phonograph.

• Desire to help others. Some inventors are motivated by a desire to make the world a better place and to help others solve problems. For example, Jonas Salk was motivated by his desire to help others and eradicate polio from the world to invent the polio vaccine.

• Collaboration. Many inventions are the result of collaboration between individuals from different disciplines. This is because complex problems often require a variety of different skills and perspectives to be solved. For example, the development of the internet was a collaborative effort involving scientists, engineers, and entrepreneurs from all over the world.

• Technology transfer. This is the process of transferring technology from one field to another. This can lead to new inventions that were not possible before. For example, the development of medical imaging technologies was driven by advancements in the field of aerospace engineering.

• Serendipity. In some cases, inventions are made by accident. This is known as serendipity. For example, the discovery of penicillin by Alexander Fleming was serendipitous. Fleming was studying bacteria when he noticed that a mold growing on one of his petri dishes was killing the bacteria.

• Social and political forces. Inventions can also be driven by social and political forces. For example, the development of the automobile was driven by the need for individual transportation in the early 20th century.

Intellectual property (IP) is a set of intangible assets that are created by human intellect, such as inventions, literary and artistic works, designs, symbols, names, and images used in commerce. IP is protected by law, which gives the creator of IP exclusive rights to use, produce, distribute, and sell their creation.

Examples of intellectual property:

• A new drug developed by a pharmaceutical company

• A new software program developed by a technology company

• A new design for a car developed by an automobile company

• A new logo developed by a marketing company

• A secret formula for a popular recipe developed by a food company

IP is considered important for society because it encourages innovation and creativity. It gives creators the incentive to develop new products and services that benefit society. IP can further help to protect consumers from counterfeit products and services.

IP can be a valuable asset for businesses. It can be used to create new products and services, differentiate a business from its competitors, and generate revenue through licensing and sale. IP can also be used to attract investors and secure loans. Benefits of IP in more detail:

• Differentiating a business from competitors: Intellectual property can give a business a unique selling proposition (USP) that sets it apart from its competitors. For example, a business that owns a patent on a new technology may be the only company that can offer that product or service. This can give the business a competitive advantage and help it to attract and retain customers.

• Selling or licensing to provide revenue streams: Intellectual property can be sold or licensed to other businesses for a fee. This can generate a significant source of revenue for the business. For example, a business that owns a trademark on a well-known brand name may license that trademark to other businesses that want to use it on their products.

• Offering customers something new and different: Intellectual property can be used to create new products and services that are not available from other businesses. This can give businesses a way to attract new customers and increase sales. For example, a business that owns a copyright on a new software program may be the only company that offers that program. This can make the business more attractive to customers who are looking for something new and different.

• Marketing/branding: Intellectual property can be used to create and market a strong brand identity. This can help businesses to stand out from their competitors and attract new customers. For example, a business that owns a trademark on a well-known logo may use that logo to market its products and services.

• Its value as an asset: Intellectual property can be a valuable asset for a business. It can be used to attract investors, raise capital, and secure loans. For example, a business that owns a patent on a new technology may be able to attract investors who are interested in helping the business to develop and commercialize that technology.

There are some commonly used types of IP declaration:

• Patents: Patents protect inventions, which are new and useful processes, machines, manufactures, compositions of matter, or improvements thereof.

• Trade secrets: Trade secrets protect confidential information that gives a business a competitive advantage.

• Copyrights ©: Copyrights protect original works of authorship, including literary, dramatic, musical, artistic, and certain other intellectual works. The copyright for the Harry Potter books belongs to J.K. Rowling.

• Trademarks ™: Trademarks protect words, phrases, symbols, and designs that identify and distinguish the source of goods or services. The Nike swoosh is a trademark.

  • Registered Trademarks ®: The McDonald's golden arches are a registered trademark.

  • Service marks SM: The Burger King Whopper is a service mark.

The use of the IP symbols is not required by law. However, using them can help to deter infringement and protect IP rights.

Patents and other IP declarations are protected internationally through a variety of treaties and agreements. The most important of these is the Paris Convention for the Protection of Industrial Property, which was signed in 1883 and has been ratified by over 170 countries. The Paris Convention provides for national treatment, which means that each member country must treat patent applications from other member countries in the same way that it treats its own patent applications.

Another important international treaty is the Patent Cooperation Treaty (PCT). The PCT allows patent applicants to file a single international patent application that will have the same effect as national patent applications filed in each of the PCT member countries. This can save patent applicants money and time, as they only need to file one application and pay one set of fees.

In addition to treaties, there are also a number of regional patent offices that offer protection for patents in multiple countries. For example, the European Patent Office (EPO) grants patents that are valid in all 38 EPO member states. The African Intellectual Property Organization (OAPI) grants patents that are valid in 20 African countries.

The effectiveness of IP protection strategies depends on a number of factors, including the strength of the IP, the resources available to protect it, and the level of enforcement. For example, a strong patent can be very effective in preventing others from copying an invention. However, if the patent is not enforced, it will be less effective.

Here are some examples of the effectiveness of IP protection strategies:

• In 2009, Apple won a $1 billion patent infringement case against Samsung. The case involved a number of Apple patents, including patents on the design of the iPhone. The verdict helped to protect Apple's IP and to deter others from copying its products.

• In 2012, Coca-Cola won a trade secret case against Pepsi. The case involved the theft of Coca-Cola's secret formula by a Pepsi employee. The verdict helped to protect Coca-Cola's trade secret and to send a message that trade secrets are valuable and will be protected by the courts.

• In 2014, Nike won a trademark infringement case against Adidas. The case involved the use of Nike's swoosh trademark by Adidas. The verdict helped to protect Nike's trademark and to prevent Adidas from confusing consumers.

There are a number of reasons why some innovators or inventors decide not to protect their intellectual property (IP). Some of the most common reasons are:

• Cost: Obtaining and maintaining IP protection can be expensive. For example, the cost of filing a patent application can range from a few thousand dollars to tens of thousands of dollars, depending on the complexity of the invention and the number of countries in which protection is sought.

• Time: Obtaining IP protection can be a time-consuming process. For example, it can take several years to obtain a patent.

• Complexity: The IP protection process can be complex and difficult to navigate. For example, patent applications must be drafted in a specific format and must meet certain requirements.

• Fear of disclosure: Some innovators and inventors may be reluctant to disclose their inventions in order to obtain IP protection. This is because disclosure can make it easier for others to copy the inventions.

• Lack of awareness: Some innovators and inventors may not be aware of the different types of IP protection available to them. As a result, they may not take steps to protect their IP.

• They want to share their ideas with the world: Some innovators and inventors are more interested in sharing their ideas with the world than in making money from them. For example, the inventor of the open-source software movement, Richard Stallman, believes that software should be free and open to all.

There are a number of alternatives to protecting intellectual property (IP). Here are a few of the most common ones:

• Secrecy: One way to protect IP is to keep it secret. This can be done by limiting who has access to the IP, using non-disclosure agreements (NDAs), and taking other steps to prevent unauthorized disclosure.

• Lead time: Another way to protect IP is to have a lead time over competitors. This can be done by developing products and services faster than competitors, or by having a unique business model that competitors cannot easily copy.

• Branding: Branding can also be used to protect IP. By building a strong brand, businesses can make it difficult for competitors to copy their products and services.

• Network effects: Network effects can also be used to protect IP. Network effects occur when the value of a product or service increases as more people use it. For example, social media platforms like Facebook and Twitter benefit from network effects.

• Open source: Open source is a software development model in which the source code is made freely available to anyone. This can be a way to protect IP, as it can make it difficult for others to copy the software.

Being First-to-market is a business strategy, a form of lead-time advantage, in which a company is the first to bring a new product or service to market. This can give the company a significant competitive advantage, as it allows the company to establish brand recognition and customer loyalty before competitors enter the market. There are a number of benefits to being first to market. Here are a few:

• Higher market share: First-to-market companies typically have a higher market share than later entrants. This is because they are able to establish brand recognition and customer loyalty before competitors enter the market.

• Higher profits: First-to-market companies can often charge higher prices for their products and services. This is because they have less competition and customers are willing to pay a premium for being the first to try a new product or service.

• Setting standards: First-to-market companies can often set the standard for the industry. This is because they are the first to establish a track record of success and their products or services become the benchmark against which other companies are compared.

However, there are also some risks associated with being first to market:

• High costs: It can be expensive to be first-to-market. Companies need to invest in research and development, marketing, and sales in order to bring a new product or service to market.

• Technological risk: There is the risk that a company's technology will become obsolete or that a competitor will develop a better product or service.

• Customer acceptance: There is the risk that customers will not accept a new product or service. This can be due to a number of factors, such as the price of the product or service, the features of the product or service, or the marketing of the product or service.

Some examples of companies that have been successful with a first-to-market strategy:

• Apple: Apple was the first company to bring a smartphone to market with the iPhone.

• Amazon: Amazon was the first company to bring e-commerce to market.

• Tesla: Tesla was the first company to bring a mass-market electric vehicle to market with the Model S.

These companies were able to achieve significant success by being first to market with new and innovative products and services.

Shelved technologies are inventions that have been patented but have not been commercialized. There are a number of reasons why some patented inventions are shelved. Here are some of the most common ones:

• Lack of funding: It can be expensive to develop and commercialize a new technology. If an inventor or company does not have the necessary funding, they may shelve the invention until they can raise more money.

• Technical challenges: Some inventions may be technically challenging to develop or commercialize. If an inventor or company does not have the necessary expertise or resources to overcome these challenges, they may shelve the invention.

• Market timing: Some inventions may be ahead of their time. If there is not a market for an invention when it is invented, the inventor or company may shelve the invention until the market is ready.

• Fear of competition: Some inventors or companies may be afraid of competition from other companies. If they think that another company is likely to develop a similar or better technology, they may shelve their own invention.

• Change in priorities: Sometimes, inventors or companies may change their priorities and decide to focus on other projects. As a result, they may shelve inventions that they are no longer interested in pursuing.

Here are some examples of shelved technologies:

• The self-driving car: The self-driving car is a technology that has been in development for many years. However, there are still a number of technical challenges that need to be overcome before self-driving cars can be commercialized at scale. As a result, a number of companies have shelved their self-driving car programs.

• The fusion reactor: The fusion reactor is a type of nuclear reactor that has the potential to produce a virtually unlimited supply of clean energy. However, fusion reactors are very difficult to build and operate. As a result, a number of fusion reactor projects have been shelved.

• The hyperloop: The hyperloop is a proposed transportation system that would use pods to travel at speeds of up to 700 miles per hour. However, the hyperloop is still in the early stages of development and there are a number of technical challenges that need to be overcome before it can be commercialized. As a result, a number of hyperloop companies have shelved their projects.

It is important to note that shelved technologies are not necessarily failures. They may simply be ahead of their time or may require more time and resources to develop. In some cases, shelved technologies may be revived in the future if the market becomes ready for them or if the technical challenges are overcome.