An invention is a new composition, device or process. It can be something completely new, or it can be an improvement to an existing idea.
Innovation is what drives the economy forward. It empowers companies to be competitive. And it adds excitement to an employee's life. But with the invention of a new product or service, it's important that you protect your intellectual property fully. It's also important that you understand the differences between trademarks and patents, and that you explore your various monetization options, including licensing and taking your concept to market.