3 invention and innovation

Invention and Innovation

Specification Details

How new business ideas come about.Understand the difference between

innovation and invention and how innovation means bringing a new idea to the market.

Explain steps an entrepreneur can take to protect their ideas through patents and copyright

Invention and Innovation

Invention means having a totally original idea and showing how it can work in theory

Innovation means putting a new idea into practice. This could be either bringing a new product to the market or by getting an organisation to try a new way of working

Innovation

Invention

Coming up with an idea, prototype of something that is new.

Using the new product, service, or method in business practice

How are inventions protected?A patent makes it unlawful for anyone to copy your

idea for 20 years after it has been taken out

◦This protects the idea and adds incentives to come up with new ideas

◦A patent will only be given if: It has never been shown publicly It is a significant step forward If it has a practical application.

Examples

Copyright – a protection for a creator against his or her work being copied

Problems with a patent

A Patent will cost several thousands of pounds

It is not illegal to break a patent, the patent holder has to take the offenders to court themselves, costing a lot of money

A business who is breaking the patent can be difficult to track, especially if the patent is broken internationally

Ipod - Genius

Ipod Genius

Innovation

Invention

Coming up with an idea, prototype of something that is new.

Using the new product, service, or method in business practice

Innovation

There are two types of innovation1. Product Innovation – new product ideas

brought to the market place, such as a probiotic yoghurt drink

2. Process Innovation – new ways of working, such as MacDonald’s use of factory style production in its restaurants

InnovationInnovation can be expensive,

for example L’Oreal’s stream of new product launches. Why is it vital, therefore, that innovative products should have high added value?

Innovation distinguishes between a leader and a follower (Steve Jobs, found of Apple)◦Explain what it means◦Explain why it matters to be a

leader, not a follower in business

Innovation : Pleo

www.pleoworld.comExample of Pleo at work : herePleo commercial : here

TaskYou work for a chocolate company and

they have asked you to design a new product◦It can be a chocolate bar, a bag or a tube

You must produce a poster to advertise your chocolate bar

It should be presented in your book and you must all answer the following points to give you ideas.

TASK – Additional information.

Use methods of deliberate creativity to come up with an invention.

Describe your chocolate bar (example – CrunchieFlake: a chocolate flake that is studded with honeycomb pieces)

Include a name and an image.Say:

◦What you will do to introduce the chocolate bar to the market?

◦What price it would be◦Whether you think people would buy it regularly

Extra revision materials

Flat Pack homesClever Croda