Invention and Innovation:

An invention is a new idea and the means of its accomplishment. the invention must have a use and be proven as workable, but to be an innovation it must also be replicable and at an economic cost that will satisfy a specific need. Only a few inventions lead to innovations because not all of them are economically feasible (an analysis to see if a proposed object will be profitable). 

Patent, copy right and trademark:

Patent: Patent is a form of intellectual property, that consist of a set of exclusive rules granted by the sovereign state to the inventor for a certain period of time in exchange for public disclosure of the invention.

Copyright: Copyright is a legal concept giving the creator of an original piece of work exclusive rights. 

Trademark: A trademark is a distinctive sign or indicator used by an individual, firm or other legal entity, allowing customers to distinguish their products from those of other entities.