What is the difference between invention an innovation? is it an important determinant for business expansion as well as increasing market share.

INVENTION is about CREATION of a NEW product, idea or process from scratch for the first time. Hence, we can talk about steam engine, electricity, internal combustion engine, computers, drugs, machines,... etc. as inventions.

INNOVATION  is about IMPROVEMENTS / ENHANCEMENTS  to existing products, ideas, or processes to make them BETTER, FASTER or more EFFICIENT