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How does an invention become a commercial innovation?

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network diagram for the Critical Path Method problem — research and development Network diagram for the Critical Path Method problem.

It is a common misconception that invention and innovation are synonymous; however, they are distinct concepts in business and research. An invention is a device, process, or product originated through study and experimentation that did not previously exist.12

In contrast, innovation refers to the introduction of something new or a significant change made to an existing product, idea, or field. While an invention represents the initial creation, it becomes a commercial innovation when it is successfully applied, adapted, or integrated into the market to provide new value or change how a field operates.12

For example, while the first telephone was an invention, subsequent iterations—such as the first cellular phone or the smartphone—represent innovations because they built upon existing technology to revolutionize communication and business practices. Essentially, the transition from invention to innovation requires moving from the mere existence of a new concept to its practical, market-facing application.12