In case of the actualization of invention, there is first-time creation of something. This implies that that thing had never been created before by any other individual. The thing can be a product. The thing can also be a specific process (Vinokurova, 2020). In case of innovation, there is improvisation on something which might have already been created before by another individual (Vinokurova, 2020). There can also be some new insight provided to an already created thing by contributing intellectually (Vinokurova, 2020). There can be innovation done to a specific product or service which might have been created before.