Invention and Innovation

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Presentation transcript:

Invention and Innovation Mrs Gutteridge

How do new business ideas come about? People using products Ideas developed by people who already have a good understanding Research departments

Invention Invention = the discovery of new processes and potential new products, typically after a period of research

Innovation Innovation = the process of transforming inventions into products that can be sold to customers. e.g. board game inventor Could make game themselves Sell their idea to a board game manufacturer

Famous cases regarding protecting business ideas: Nike vs Addidas http://news.bbc.co.uk/player/nol/newsid_4720000/newsid_4726300/4726390.stm?bw=bb&mp=wm&asb=1&news=1&bbcws=1 Dyson vs Hoover: http://news.bbc.co.uk/1/hi/business/970248.stm 5