An innovation is translated into the market place when it is commercialised. In other words it is manufactured and sold to the public. Commercialization is a challenge to innovators as numerous factors come into play. This is where organisations both government and non-government play a role in assisting innovators to succeed in translating their innovations to the market place thereby benefiting themselves as well as society.
IP is Intellectual Property which includes copyright, industrial design, trade mark, patent and trade secret.
IPR or Intellectual Property Rights are the rights to the benefits to be gained by a person over his intellectual property.
IPS is Intellectual Property System which is the system for protecting intellectual property at the world and country level.
A patent is an exclusive right granted for an invention, which is a product or a process that provides a new way of doing something or offers a new technical solution to a problem.
A trademark is a name or logo which distinguishes the goods and services of one trader from another.
A copyright serves to protect one’s works of authorship including books, songs, poems, works of art, films, computer programmes, etc.
An invention is protected by patenting it. A patent gives the inventor the exclusive right to stop others from using, manufacturing or selling your invention. You must file your patent with the Malaysian Intellectual Property Organisation (MyIPO) or the respective intellectual property organistion in your country.
Creativity is the process of bringing into existence new and original ideas. It involves creative thinking.
Invention on the other hand is something, a product or a process that is a new solution to a specific technical problem.
Innovation is the implementation of a new product or process in society or the commercialisation of an invention, making it available to the public.
A scientific discovery is the recognition of a phenomenon, property or law of the material universe. It is not invented by man. It is already in existence and is discovered by man.